Italian prime minister Giuseppe Conte announced in an online presentation on Nov 24 that the government was close to securing the future of ArcelorMittal Italia’s operations in a part-ownership investment strategy.
Conte stated that they are defining the agreement with ArcelorMittal to complete the investment project in the name of a public-private partnership for the Ex Ilva of Taranto and are offering an articulated plan to relaunch the Taranto steelworks towards a green transition.
This indicates that ArcelorMittal Italia will retain some degree of ownership in conjunction with state participation, with the company CEO Lucia Morselli confirming that it was close to finalizing an agreement with the Italian government.
The Italian government is expected to manage its involvement through the Invitalia investment vehicle, while a spokesperson for the state fund noted that it would not take a “minority” shareholding.
ArcelorMittal Italia’s Taranto steelworks has an installed capacity of 11mn mt of crude steel per year and operates four blast furnaces.