Italian energy company to convert plant to biofuels

Italian energy company Eni will invest €100 million ($128.7 million) into converting a conventional refinery located in Venice to biofuels.

The process will start with an initial conversion of existing facilities which will be launched in the second quarter of 2013 and be completed by December.

‘It will make the Venice site a model of technological excellence and will represent a solid business within Eni’s scope of activities,’ an Eni statement reads. ‘Biofuel production will start from January 2014 and will grow progressively as the new facilities enter into operation.’

Eni also met with local and national institutions, as well as trade unions, to explain the process and said a proportion of the staff used will be brought on to the new project.