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ENI Caps Petchem Spending; Transfers Porto Torres to Polimeri

11:23 AM MDT | June 2, 2008 | Natasha Alperowicz

ENI (Rome) says it has no plans to increase capital expenditure at Polimeri Europa, the group’s main petrochemical subsidiary. Petchem investments will target plant efficiency upgrades, capacity debottlenecks, and environmental protection, rather than new plant construction, ENI says. “In future years, management forecasts a yearly level of expenditure in line with 2007,” ENI says in recent U.S. SEC filings. Capital spending at Polimeri Europa totalled €145 million ($224.8 million) in 2007. Polimeri Europa is one of Europe’s leading...

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