Eni, Cassa Depositi e Prestiti to Establish Joint Venture
March 06 2020 - 10:16AM
Dow Jones News
By Mauro Orru
Eni SpA said Friday that it has signed an agreement with Italian
state lender Cassa Depositi e Prestiti to establish CircularIT, a
vehicle to construct plants for the production of biofuels and
water from organic municipal waste.
The Italian oil-and-gas major didn't disclose full financial
details but said CDP Equity, part of Cassa Depositi e Prestiti,
would hold 51% in CircularIT, with Eni subsidiary Eni Rewind
retaining 49%.
"The set-up of CircularIT will aim to help fill the
infrastructure investment gap necessary to achieve targets that
were set as part of the EU Circular Economy 2018," Eni said.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
March 06, 2020 10:01 ET (15:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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