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Italy Files Appeal to Stop ArcelorMittal from Quitting Ilva Deal

Steel News - Published on Mon, 18 Nov 2019

Image Source: reutersmedia.net
The Italian government has filed a legal appeal on Friday to prevent ArcelorMittal from walking away from a 2018 deal to buy Europe's largest integrated steelmaking mill. Italian Prime Minister Mr Giuseppe Conte said “Rome considers the troubled Ilva steel mill in the southern city of Taranto a strategic industrial site. The government will not allow the deliberate closure of the blast furnaces at the site as it would amount to ending any chance of investment to make the site viable and safeguard some 8,000 jobs. If ArcelorMittal walked away from the badly polluted site it would be a clear violation of contractual commitments and cause grave harm to the national economy."

He said the group would have to answer in the courts and face paying damages to the Italian state.

Source :

Posted By : Rabi Wangkhem on Mon, 18 Nov 2019
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