Invitalia and Sasol Italy Energy a petrochemical company belonging to the South African multinational Sasol Ltd have signed a Development Contract worth over 47 million euro to build an innovative facilityin Sicily with a low environmental impact to generate steam and electrical energy.
Invitalia will fund the project with around 30 million euro. The cogeneration plant will be built in the petrochemical district of Augusta (Syracuse), in Contrada Marcellino; it will be powered by natural gas and will generate electricity with a nominal power of 40 MWe.
The investment programme includes infrastructure projects and supplies of industrial machinery, systems and equipment. The work will be completed by April 2015.
The agreement was signed in Rome by Domenico Arcuri, CEO of Invitalia, and Antonino Maraffa, CEO of Sasol Italy Energy.
Todays agreement, said Domenico Arcuri, kicks off a new manufacturing investment in Southern Italy by a multinational company which, thanks to the Development Contract managed by our Agency, can rely on reduced timeframes and simplified procedures. The project will strengthen the competitive position of the industrial group in Italy and will make it possible to sell electricity to the external network of Sicily. The agreement with Sasol Italy Energy confirms that investing in Southern Italy is becoming both possible and affordable if entrepreneurs find concrete rules and reliable partners.
The facility will help to decongest the power grid, resulting in greater supply security for customers located in the surrounding area. The expected turnover at full capacity in 2016 is over 32 million euro.
The agreement with Sasol Italy Energy is the 7th Development Contract signed by Invitalia, the National Agency for inward investment promotion and enterprise development. The 6 previous agreements including 3 with major multinationals were signed in Campania, Sicily and Puglia, with investments worth over 260 million euro in the aeronautical, food, energy and telecommunications sectors.