Issue Date: May 14, 2012
Eni Plans Chemical Investments
Versalis, the chemical unit of Italian oil company Eni, plans to invest $2.1 billion in chemicals by 2015. The company intends to spend some $450 million as part of this investment, revamping ethylene crackers and polyethylene plants as well as building new plants at its Priolo, Italy, site. The company will also spend another $650 million on its elastomers business, largely through the construction of new plants at its facilities in Ravenna and Ferrara, Italy, and its facilities in Grangemouth, Scotland. Eni hopes to grow chemical sales by 50%.
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