Acciaierie d’Italia (ADI), the joint venture between state company Invitalia and ArcelorMittal, registered steel output below 3 million tonnes in 2023, according to preliminary data.
This is below the shareholders’ initial objective of 4mt in 2023 and 5mt in 2024. “None of the commitments made have been kept regarding employment levels and industrial relaunch. In recent years, production has progressively reduced, in defiance of the agreements signed,” Italy’s Minister of Enterprises and Made in Italy (MIMT), Adolfo Urso, said in a televised speech from the Senate in Rome followed by Kallanish.
“We intend to reverse the trend by outlining a new steel plan … based on a progressive process of renewal, modernisation and specialisation of the existing equipment,” he stated.
He added that thanks to the recent meeting with the private partner this week, the shareholders have partially redefined the previous agreements, creating the conditions for better governance and “the possible entry of another industrial player even in partnership, something previously expressly excluded”.
“ArcelorMittal declared itself willing to accept to reduce its stake to a minority but refuses to contribute financially according to its share, putting the entire financial burden on the State. At the same time, it intends to keep the privilege granted in the original pacts between the shareholders when the Acciaierie d’Italia company was created to share the governance to influence any further decision, which is neither acceptable nor feasible,” Urso continued. “We have therefore mandated Invitalia and its legal team to explore every possible consequent solution.”
ArcelorMittal declined to comment on Thursday.
Natalia Capra France
