Saipem said Monday it has won a key contract from Eni's (E) Industrial Evolution unit to build the new Priolo biorefinery in Sicily, Italy.

The contract, worth about 700 million euros ($823.3 million) upon completion, includes engineering, procurement and construction work, with completion targeted by the end of 2028, the company said.

The award builds on the ongoing partnership between Saipem and Eni in biorefining, following agreements first signed in 2023 and later extended in 2025, it added.