Italian PM meets ArcelorMittal over Ilva, deadline looms

Italian Prime Minister, Giuseppe Conte, met ArcelorMittal global management in London again this week to discuss the future of the former steelmaker Ilva in Italy, Kallanish notes.

Conte confirmed after the meeting that the Italian state will be investing in the relaunch of Ilva and stressed that negotiations with ArcelorMittal over the new industrial plan are ongoing.

The meeting came as the deadline to reach an agreement between Italian authorities and ArcelorMittal is quickly approaching. On Friday 7 February the parties must meet in a local Italian court and have an agreement to present, otherwise the risk of ArcelorMittal exiting the agreement to acquire the company will become reality.

The main differences between the Italian authorities and ArcelorMittal revolve around the workforce at the former Ilva site of Taranto. Future production levels also need to be agreed. The likelihood is that an annual output of 5-6 million tonnes/year through the blast furnaces and an addition of an EAF at the Taranto site will be the outcome.