According to Minister of Enterprises and Made in Italy Adolfo Urso, the Italian government plans to begin the process of allocating Acciaierie d’Italia (ADI)’s Taranto steelworks by the end of July. Urso told local press this week he has scheduled meetings with two potential buyers who are interested in acquiring the troubled steelmaker.
Urso confirmed his intention to meet with trade unions and ADI’s special administrators on 25 July to discuss the new industrial plan for the relaunch of Taranto. The steelmaker’s management is once again undergoing a reshuffling. Alessandro Faroni will take over the role of commercial director, succeeding Andrea Bellicini.
The Italian government has set aside approximately €1 billion ($1.09 billion) from the country’s development fund for a direct reduced iron plant in Taranto, Kallanish notes. Authorities will also provide support amounting to €700 million to whichever company acquires ADI’s production equipment. The steelmaker will need to allocate about €1 billion to address the damage to its equipment that occurred during the previous administration.
The project is set to commence by the end of this year, with the new special administration planning to allocate approximately €400m in payments in 2024 (see Kallanish passim). Meanwhile, production at Taranto continues to be limited, with blast furnace no.4 the sole operational BF.
Natalia Capra France
