Italian energy giant Eni and its chemicals subsidiary Versalis plan to invest €125 million at Versalis' production site in Mantova, Italy.

Eni said the investment is part of its four-year strategic plan for the period 2014-2017 that foresees optimizing production processes and generating additional energy savings as well as expanding research and development.

The companies did not specify what the upgrade would entail, other than pointing to "strong business opportunities relating to production of intermediates and styrenics, including styrene, polystyrene and styrene-acrylonitrile.

R&D facilities at Mantova are grouped around the Claudio Buonera Research Center which employs 200 people and focuses on basic chemistry and plastics. Altogether, the workforce at the site totals 962

Earlier this year, Versalis announced it would conduct a €200 million revamp of its Porto Marghera site, which would require shutting down production of olefins and aromatics for six months from the end of February.

The company said the Marghera shutdown would not affect other sites. The company also has production facilities at Ravenna, Italy.