By LIAM MOLONEY
ROME -- Eni SpA, Italy's biggest energy company, said Friday
it will invest about 100 million euros ($130 million) to
convert its Venice plant to refine biofuels, as it aims to make
the facility profitable in the long term amid a crisis hitting
the European refining sector.
In a statement, Eni said it informed labor unions and
government officials about the conversion, which will start in
the second quarter of 2013. The conversion is expected to be
completed at the end of that year.
Production of biofuels at the refinery is expected to start in
January 2014 and be fully operational in the first half of
2015, the Rome-based company said.
Until the conversion starts, the refinery will continue to work
normally, it added.
Dow Jones Newswires