Italian steelmaker Acciaierie d’Italia (ADI) aims to reach between 1.9-2.2 million tonnes of steel output in 2024. Based on the most recent update of the relaunch plan communicated to workers, ADI’s special commissioners have set a target to restart blast furnace No.1 in October of this year. In 2025, around January or February, BF No. 2 will also be restarted. Production will be assured by BF No. 1, 2, and 4 by the first quarter of 2026. By 2025, the plant is projected to achieve a capacity of 4.5-5m/t.
Currently, Taranto is utilising only BF No. 4. BF No. 5 has been inactive for a number of years, while 1 and 2 ceased production a few months ago. An agreement has been reached between the Labour Ministry and the workers for a temporary layoff scheme that will involve 4,050 employees until 2026. 3,500 workers will be from the Taranto steelworks, while the remaining 450 are from other sites in the north of Italy. To implement the relaunch, ADI will secure a loan of €620 million ($676m).
Last week, the Ministry of Enterprises and Made in Italy and the special commissioners of ADI, the former Ilva, have invited expressions of interest for the acquisition of the struggling steelmaker’s assets. These must be submitted by 23:59 Italian time on 20 September. “The special commissioners intend to jointly carry out … a coordinated sales procedure … with the view to transferring the assets and businesses belonging to Ilva and the Ilva subsidiaries, as well as certain specific assets and contractual relationships belonging to ADI and the ADI subsidiaries, which are functional to the operation of the business and/or the individual business units,” reads the invitation document obtained by Kallanish.
The aim of the sale is to swiftly and effectively reduce CO2 emissions and enhance steel production in Italy, by bringing about a change in the management. The text asks potential buyers to preserve employment, with the view to significantly reducing the use of social safety nets compared to the current scenario.
Meanwhile, representatives of Indian trading company Steel Mont, Metinvest, Oman-based Vulcan Green Steel (VGS) and Canada’s Stelco have visited Acciaierie d’Italia’s plants in Genova, Novi Ligure and Taranto in recent weeks, with a view to potentially acquiring the producer (see Kallanish passim).
Natalia Capra France
