Multinational company Covestro invests €51 million to decarbonize its Tarragona plant

The multinational company Covestro has invested €51 million in a decarbonization and efficiency improvement project at its chemical plant in Tarragona, Catalonia. The facility specializes in producing MDI, a precursor for rigid polyurethane foam used in building insulation and refrigeration, among other applications. With this initiative, Covestro aims to achieve an annual energy savings of at least 72,000 MWh and reduce up to 13,000 tonnes of CO₂ emissions per year.

The Covestro project has received support from ACCIÓ-Catalonia Trade & Investment, the agency for business competitiveness belonging to the Catalan Ministry of Business and Labour, via a €1.6 million grant from the High-impact Business Investment line.

“Tarragona has all the necessary elements to become a benchmark for sustainable chemistry in Southern Europe”

Andrea Firenze, General Director of Covestro in Spain

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Jaume Baró, Secretary for Business and Competitiveness and CEO of ACCIÓ-Catalonia Trade & Investment met with company executives on Friday at the Tarragona facilities to learn about the project firsthand. Baró emphasized, "Covestro’s sustained commitment to Catalonia through continuous reinvestment, demonstrating Camp de Tarragona's importance in the international chemical sector". He added that this reinvestment "shows the path towards decarbonization and the need to address the challenge of achieving full circularity, a goal we share and want to help achieve as a government".

The general director of Covestro in Spain, Andrea Firenze, noted: "This new investment is another step in our firm commitment to the region and to sustainability. Tarragona has all the necessary elements to become a benchmark for sustainable chemistry in Southern Europe, and with this new project, we aim to continue supporting the consolidation of Tarragona's chemical hub, ensuring even more efficient and sustainable MDI production".

The initiative is part of the company's global strategy to achieve full circularity. To drive the project forward, Covestro will acquire new machinery and components (such as cooling towers, compressors, and boilers), along with implementing upgrades and new services at the plant.

This project builds on Covestro's recent investments in Tarragona, such as the launch of a new plant in 2023 to provide a constant supply of chlorine and caustic soda for MDI production. The company invested €200 million in this facility, creating 50 new jobs in the region.

Covestro operates 50 production sites globally and employs over 18,000 people. In Tarragona, the company has a hydrochloric acid and caustic soda distribution center, a private railway hub, and infrastructures it makes available to other companies within the chemical park, as well as the two production plants for MDI and chlorine. Furthermore, Covestro has a facility in the Zona Franca of Barcelona dedicated to producing resins for coatings and adhesives for industries such as automotive, textile, wood, and construction, not to mention its research center for products for wood finishings and its sales divisions.

The company also maintains a production center and an R&D center in Parets del Vallès, as well as a polyester resin production and sales facility in Santa Margarida i Els Monjos. Overall, Covestro has four production centers in Spain, employing over 500 people.

Tarragona, the chemical hub of Catalonia

During his visit to Covestro, Jaume Baró, Secretary for Business and Competitiveness and CEO of ACCIÓ-Catalonia Trade & Investment, concluded the day with meetings with other multinational chemical companies in the Camp de Tarragona. He met with executives from BASF and Repsol and participated in the tenth-anniversary celebration of the ChemMed Cluster, which includes the leading chemical companies in Catalonia.

According to Baró, "the chemical sector is one of the principal motors of Catalonia, and for the Government, it is strategic to support Catalan companies in facilitating their green transition to ensure the decarbonization of this industry". He added, "Today, I was able to learn first-hand about the commitments of leading companies in this field, and I am convinced that we will not only continue to be the chemical hub of southern Europe, but also serve as a reference for other countries in sustainability and the transition to a more responsible model that also drives projects generating investment and quality jobs in our region".