Luxembourg, 13/12/2000 (Agence Europe) - The European Investment Bank is granting a loan of EUR 180 million (30 billion pesetas) to the first Spanish petrochemical group, Repsol Química, for its Tarragona factory. The loan will finance new production installations for petrochemical derivatives, storage and transport towards the port of Tarragona as well as waste water treatment. Incorporated into the Repsol oil refinery in Tarragona, the new plant, Repsol Química, will enable the "promoter to cater for demand in Southern Europe and trim transport costs", stresses the EIB in a press release. The project will also allow the company to improve its competitiveness and will have a beneficial effect on employment in the region as it is situated in a locality hard hit by the decline in the region's traditional textiles and light engineering industries, specifies the Bank.