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Italy: Eni and Ramco sign agreement in principle on vinyls

It seems that the Italian government has found a new buyer for Vinyls Italia, the former Ineos subsidiary, or – perhaps more accurately – someone to take the company off its hands. At a recent meeting at the Ministry for Economic Development in Rome, Italian state-owned oil and petrochemicals giant Eni (Rome; www.eni.it) and Qatar-based building contractor Ramco Trading & Contracting (Doha; www.ramcoeng.com) signed an “agreement in principle” for reviving Italy’s PVC production.

The preliminary deal foresees Ramco taking over the VCM and PVC production facilities of Vinyls Italia, now in receivership, as well as Eni’s chlor-alkali plants in Assemini, Porto Marghera and Ciro Marina.

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