Investment in Factories

For Spain, the discovery of oil in the Oman Region meant far more than simply possessing oil reserves. All of this oil had to be transported to mainland Spain for processing, and the petroleum processing industry could provide mainland Spain with a large number of jobs, thereby promoting the development of Spanish industry and the economy.

After publicly announcing this good news, the Spanish government immediately decided to establish a large petroleum industrial zone in mainland Spain, specifically responsible for processing oil shipped to mainland Spain from the Persian Gulf coast, before selling the products across Europe and even the world.

There was naturally no need to elaborate on the importance of oil. Diesel and gasoline refined from crude oil were extremely important fuels in both military and civilian fields.

Other petroleum products also played an immensely important role in industrial and civilian fields. Put simply, finished products made by Spanish oil refineries would never lack buyers; building such an industrial zone was a sure-profit venture with no chance of loss.

After internal discussions within the Spanish government, it was ultimately decided to invest 85 million Pesetas in constructing a large oil-processing industrial zone.

Once this large petroleum industrial zone was completed, Spain's output of energy products such as gasoline and diesel, as well as its output of petrochemical products, would rise sharply.

This would not only effectively lower fuel prices within Spain, but also allow the Spanish government to earn foreign exchange by exporting large quantities of refined petroleum products.

Because a petroleum industrial zone was more like a transit hub, it had to be built by the sea, preferably beside a port, so as to facilitate the transport of oil and petroleum products.

After making its selection, the Spanish government ultimately placed this large petroleum industrial zone in