CDP catalyses investment in Southern Italy: new EIB funds for Milazzo Refinery

In its capacity as National Promotion Institution, CDP will favour the flow of Juncker Plan funding to Southern Italy

The Board of Directors has agreed to grant a €42 million guarantee on a €110 million loan from the European Investment Bank (EIB) intended to reduce the environmental impact and to improve the energy efficiency and safety of the Milazzo Refinery.

The refinery is a 50-50 joint venture between ENI and Kuwait Petroleum Italia. It is one of Italy’s top four Italian refineries by production capacity and provides 621 jobs, which will peak at 1,700 employees while the investments are being implemented – not to mention the effect on the local downstream economy.