Italian steelmaker Acciaierie d’Italia (ADI), a joint venture between state-owned Invitalia and ArcelorMittal, is idling blast furnace no.2 from 4-11 December for maintenance works, Kallanish learns from a company source.
The company has launched a programme of maintenance works at several departments, including the melt shop, the coke plant and the rolling mill, which will be carried out simultaneously to minimise the impact on Taranto’s production. Pig iron production at BF no.2 is suspended for seven days and the plant is now only running BF no.4.
According to sources close to the dossier, the government and ArcelorMittal are in advanced talks to relaunch the troubled steelmaker. It would take about €1 billion ($1.09 billion) to buy the steelworks’ facilities, which are the object of seizure due to legal conundrums, from the extraordinary administrator of the former Ilva plant. An additional €320 million are needed to sort out the company’s immediate needs.
The funds should be injected jointly by the private and the public partner. Another meeting has been scheduled for 6 December. According to rumours, ArcelorMittal is willing to find a solution and is considering a pool of bank financing for the funds. The company refused to comment.
Multiple sources believe the Taranto steelworks will register in 2023 about 3 million tonnes of crude steel production. The company previously confirmed its forecast of producing at least 4mt this year, with the aim of reaching 5mt in 2024. Acciaierie d’Italia employs over 10,000 workers.
Natalia Capra France
