(Alliance News) - Eni Spa and Edison Spa announced Tuesday that they have signed an agreement sanctioning cooperation between the two companies for the management of environmental remediation projects at all industrial sites at the time -- 1989 -- conferred by Montedison to Enichem.

"The agreement will regulate the equal economic competition for the remediation work, which has long since been undertaken by Eni's companies, Eni Rewind and Versalis, in execution of the projects decreed by the Ministry of the Environment, inaugurating a new season of cooperation between Eni and Edison that will capitalize on the experience and technologies acquired by Eni Rewind and Edison Next Environment," the companies explained.

Remediation activities will proceed in continuity.

Implementation of the site-by-site agreement, with related planning activities, cost-sharing resulting from approved remediation projects, and relations with institutions will be shared and coordinated by a joint technical-legal committee between the companies.

Eni's stock is up 0.6 percent at EUR13.96 per share and Edison's stock is at parity at EUR1.41 per savings share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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