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ArcelorMittal Italia to Present New Plan to Revive Ilva Steel Plant

Steel News - Published on Wed, 27 May 2020

Image Source: Ilva Steel Plant
Italian media reported that after latest talks over the fate of the former Ilva steel smelter in southern Italy with government officials is now expected to provide its industrial plan for the plant’s turnaround sometime in early June as state would play a direct role in assuring the facility would emerge stronger from its ongoing environmental, labor, and production struggles. ArcelorMittal italia head Ms Lucia Morselli said “We want to move forward and we will be ready to present a plan in around ten days. We also want to maintain the integrity of the plant and its importance at the European level. We want to honor the commitments made to the end even with the difficulties caused by Covid.”

Minister of Economy and Finance Roberto Gualtieri said “The government is willing to intervene directly in order to have a strong Ilva again. We want an Ilva that produces again, which is a world leader, which provides jobs for 10,700 workers, and which makes significant investments.”

The latest developments could prove to be positive news for the Italian economy, which is expected to shrink by around 10 percent this year as it struggles with the impacts of the global coronavirus outbreak. For all its problems, Ilva is among the largest single employers in southern Italy.

In February and March, as the coronavirus was spreading in Italy, ArcelorMittal said it would abandon Ilva, which when running at full capacity is Europe’s largest steel smelter. But the government stepped in to try to convince ArcelorMittal to stay the course.

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Posted By : Yogender Pancholi on Wed, 27 May 2020
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