27 May 2011 14:02 [Source: ICIS news]
LONDON (ICIS)--Bioplastics producer Novamont and Eni subsidiary Polimeri Europa have signed a joint-venture agreement to build and manage a €500m ($704m) biorefinery at the Porto Torres petrochemical facility in ?xml:namespace>
The Porto Torres facility is operated by petrochemical producer Polimeri Europa and its sister company, Syndial.
Under the joint-venture agreement, renewable raw materials will be used to build a “green centre” that will produce biomonomers, biolubricants, biofillers, biointermediates/additives for elastomers, and bioplastics.
Novamont's contribution to the joint venture will be to provide its proprietary technologies for the design, building and operation of the facilities, while Eni will provide the site, the infrastructure and skilled labour.
Eni, through Polimeri Europa, hopes the project will help it become a leader in “green chemistry” – chemistry using renewable raw materials.
“Through this strategic alliance between Polimeri Europa and Novamont, Eni believes that it can become a world leader in the bioplastics sector, a 100% Italian leader, which may bring numerous advantages for Italy, not least in economic and social terms,” said Eni.
“This will be the springboard from which Eni will build one of the world's largest and most innovative chemical centres from renewable sources,” the company added.
The companies said there will be three stages to the investment in the Porto Torres Green Centre.
The initial investment will be the building of facilities to produce biomonomers for bioplastics, biolubricants, and biointermediates/additives for elastomers.
Then, facilities to produce biofillers and biointermediates/additives for elastomers will be built, followed by the capacity expansion of the initial facilities and the construction of a bioplastics plant.
Details of the construction start date were not disclosed.
($1 = €0.71)
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