MILAN (Reuters) – The sustainable mobility unit of Italy’s Eni and petrochemicals maker LG Chem have teamed up to explore the potential development of a biorefinery in South Korea, the two companies said in a statement on Thursday.
The project, which is designed to process around 400,000 tonnes of bio-feedstocks per year, aims to boost the production of sustainable fuels and plastics through low-carbon processes amid growing demand as well as decarbonise the energy and mobility sector.
A final decision for the investment is scheduled by next year and the plant is set to be completed by 2026 at LG Chem’s existing integrated petrochemical complex in Daesan.
(Reporting by Federico Maccioni, editing by Gianluca Semeraro)
