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Talk about again ex Ilva. In reality, the complex dossier of the Taranto company has never ceased to be discussed and evaluated.
A thorny and delicate issue that of the future of the Apulian steelworks, which Conte himself mentioned in the last press conference on the Prime Minister’s Decree, recalling how much the history of the industry was disturbed even before his rule.
The former Ilva then jumped into the spotlight with the announcement of an agreement between ArcelorMittal me Invitalia. The agreement establishes that the State returns, in fact, to manage the strategic steel pole for all of Europe. So what are the next steps sanctioned by the deal?
Ex Ilva: there is an agreement, a future under the state flag
A tormented story that of the former Ilva de Taranto, who could find a decisive solution with the agreement announced last night, December 9, and that today the protagonists will prepare to sign.
Therefore, all eyes on ArcelorMittal and Invitalia. The multinational and the company Mef, which represents the Italian state, have reached an agreement to relaunch the steelworks. And, above all, to seal the full return of the state management of the company.
The terms of the agreement, in fact, establish that in early 2021 Invitalia will continue with the signing of a capital increase of 400 million euros from AmInvestco Italia (ArcelorMittal vehicle company), to own 50% of the company.
Subsequently, for 2022, a second capital increase of 800 million euros that, according to rumors, 90% should be in the hands of Invitalia. At this point, the Italian state will reach check 60% of the former Ilva and assume the majority position also on the board of directors.
The future of Taranto steel: the next steps
With this agreement the near future of the steelworks is outlined.
Specifically, in the course of 5 years the company should return to producing 8 million tons of steel year, through the blast furnace (active on day 4 while it will be rebuilt) an electric furnace, which represents a novelty.
Then there will be two pre-shrunk plants managed by another company and operating out of the old Ilva. The objective is to reduce polluting emissions, a very difficult problem to solve, but urgent to solve.
The recovery plan must follow this pattern: just over 3 million tons produced by 2020 and 5 in 2021.
Governance will be well shared between the public and private powers and each will have three representatives on the board, with the president in the state arm and the executive director in the private one. Investments are estimated at 2,100 million euros by Invitalia.
An important commitment is that of the workers. In the 2025 plan for the old Ilva no layoffs are foreseen, with the mission of 10,700 employees of the group, of which 8,200 in Taranto. This has always been a crucial and sticking point in the negotiations with ArcelorMittal.
However, pending the relaunch of production with the new structure, the redundancy fund will be the parachute used to protect workers.
The agreement on the former IlvaHowever, it does not convince everyone. The municipality of Taranto is in protest with the mayor in the front line for lack of certainty about the environmental impact plan and about decarbonization.
