European Investment Bank signs $587.6M financial package with Eni for biorefinery

In Italy, the European Investment Bank (EIB) and Eni have signed a €500 million 15-year finance contract to support the conversion of Eni’s Livorno refinery in Tuscany into a biorefinery. The agreement was signed at Eni’s headquarters in San Donato Milanese by EIB Vice-President Gelsomina Vigliotti and Eni CEO Claudio Descalzi. Eni’s project involves the construction of new plants to produce hydrogenated biofuels at the Livorno refinery site, including a biogenic pre-treatment unit and a 500,000-metric ton/year Ecofining™ plant.