In Kenya, Business Daily reported that The International Finance Corporation (IFC) is set to invest $210 million in an agribusiness project by to be carried out by Eni Kenya.
The IFC said the investment in the form of a senior loan will support capital requirements by Eni Kenya towards the construction and operation of agri-processing plants in the country.
According to the report, Eni has initiated a biofuel project in Kenya that involves the contractual engagement of third-party farmers and aggregators to supply oil seeds to Eni-owned agri-processing plants in Makueni and Kwale counties.
Eni Kenya noted that the seeds will be processed to produce vegetable oils for export to Eni bio-refineries in Italy and further refined into different biofuels, the report added.
More on the story.
