Eni to invest $3 billion in Republic of Congo, including 340,000 tonnes of palm oil for biodiesel and food

May 20, 2008

In Italy, Eni announced a $3 billion investment in oil, biodiesel and food production in the Republic of Congo. The company said that they intend to cultivate 340,000 tons of crude palm oil in the Niari region of the Congo, to cover domestic food industry needs and provide 250,000 tons for export. The company also said that it would invest in a 450 MW gas-fired power plant that will provide 80 percent of the country’s power needs.

Last October, Brazil agreed with Congo Republic to provide training, technology and financing for sugar ethanol and palm oil biodiesel production. Brazilian President Luiz Inacio Lula da Silva said that Africa had sufficient land to produce biofuel and that using that land for biofuels would alleviate energy concerns in the continent.

The Brazilian president has been on a long global tour to promote biofuels, including an address at the UN summit on climate change. He recently concluded a four-country Scandinavian tour.

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Written by Jim Lane · Filed Under International, Producer News