Table of Contents:
Eni’s investment plan
Eni recently announced an ambitious investment plan of about 2 billion euros to relaunch the chemical sector in Italy. This intervention is part of a context of crisis for the European chemical sector, which is facing a structural and irreversible decline. Eni’s decision to invest in Versalis, its chemical subsidiary, aims to reduce the company’s exposure to basic chemicals, a sector that has seen significant losses in recent years
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The challenges of the chemical sector
Versalis recorded its last profit in 2017 and reported a loss of 220 million euros in the second quarter of this year. In the last 15 years, exposure to chemicals has resulted in economic losses close to 7 billion euros, including 3 billion in the last five years. This situation has prompted Eni to restructure and reposition the business, with the goal of achieving breakeven by next year and a
profit in 2026.
Environmental impact and sustainability
Another crucial aspect of Eni’s plan is the reduction of CO2 emissions. The company plans to reduce emissions by about 1 million tons, which currently represent about 40% of Versalis emissions in Italy. This commitment to sustainability is in line with growing global pressures to reduce the environmental impact of chemical industries and to promote more sustainable practices
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Future Perspectives
Eni will provide further details on the plan during the presentation of its third quarter results. The planned investments are not only aimed at reviving Versalis, but also at positioning Eni as a key player in the transition to a greener economy. With this plan, Eni aims to face the challenges of the European chemical market and to contribute to a more sustainable future for the Italian chemical industry.
