Former Ilva steel plant in Taranto: Government meets with ArcelorMittal

During the meeting held today at Palazzo Chigi with ArcelorMittal regarding the former Ilva steel plant in Taranto, the Government delegation proposed the subscription of a share capital increase, worth EUR 320 million, to the company’s top management, which would contribute to raising the public shareholder Invitalia’s stake in the company to 66%, together with the amount necessary to guarantee the continuity of production. The Government has taken note of ArcelorMittal’s unwillingness to make financial and investment commitments, even as a minority shareholder, and has instructed Invitalia to take the subsequent decisions via its legal team. The Government will call a meeting with the trade union organisations, to be held in the afternoon of Thursday 11 January.