Eni SpA plans to invest around €2 billion ($2.2 billion) in the next five years to rejuvenate its chemicals division in Italy.
The goal is to reposition Versalis, Eni's unit, in response to the challenges faced by the basic chemicals sector in Europe, which is experiencing a decline.
This investment demonstrates Eni's commitment to transforming its aging chemicals business and adapting to changing economic conditions in the European chemicals industry.