ADI continues talks with potential buyers
The extraordinary administrators of Italian integrated steelmaker Acciaierie d’Italia (ADI) are continuing negotiations with interested buyers, the steelmaker said earlier this week.
The interested parties remain the same – an Azerbaijani consortium led by Baku Steel, Indian steel company Jindal Steel and the United States investment fund Bedrock Industries Management.
“The shared objective is to identify solid, sustainable and long-term industrial solutions,” an ADI spokesman said.
The ADI administration is paying particular attention to the required gas supply development for the green transition of the mill, including replacement of blast furnaces (BFs) with direct-reduced iron and electric-arc furnace (DRI-EAF) production.
ADI has been inactive in the market over the past month. In late June, Minister of Enterprise and Made in Italy (MIMIT), Adolfo Urso, told trade unions that all ADI’s blast furnaces (BFs) were at risk of closure. Italian authorities have been negotiating the sale of the plant to several potential buyers, including Baku Steel and JSW Steel.
On 4 July, the MIMIT held a meeting regarding energy supply for the decarbonization of ADI. The next meeting will take place on 8 July.
Maria Tanatar Associate Director, Steel and Green Steel
