Italy’s Eni to invest €100m to convert Venice plant into bio-refinery

21 September 2012 17:44  [Source: ICIS news]

LONDON (ICIS)--Eni plans to invest €100m ($130m) to convert its existing refinery in Venice into a bio-refinery, the Italy-based energy and chemicals major said on Friday.

Eni said it expects to start work on the conversion in the second quarter of 2013, with completion expected by the end of that year.

Biofuels production at Venice will start from January 2014, the company said.

It did not disclose capacities but said that production would increase progressively as additional new facilities at the site will be completed in 2015.

“The new green plant will maintain the Venice site in an economically sustainable industrial operation over the long term, with low environmental impact,” Eni added.

Eni’s Venice refinery has a capacity of 80,000 bbl/day, according to information on the company’s website. The plant supplies markets in north-eastern Italy and in Austria.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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