ArcelorMittal Italia unveils new revival plan for the Ilva steelworks

Italian media reported that after recent talks with government officials on the fate of the former Ilva iron and steel works in southern Italy, it is now expected to present its industrial plan for the refurbishment of the plant sometime in early June, as the state will play a direct role in keeping the plant up and running. ... It is necessary to grow stronger due to the ongoing struggle for the environment, labor relations and production. ArcelorMittal Italia CEO Lucia Morselli said: “We want to move forward and we will be ready to submit a plan in about ten days. We also want to preserve the integrity of the plant and its importance at a European level. We want to fulfill our commitments to the end, even in spite of the difficulties caused by Covid. "

Economy and Finance Minister Roberto Gualtieri said: “The government is ready to intervene directly in order to have a strong Ilva again. We want Ilva to produce again, which is a world leader, which provides jobs for 10,700 workers and which makes significant investments. "

The latest developments could be positive news for the Italian economy, which is expected to contract by about 10 percent this year as it grapples with the fallout from the global coronavirus outbreak. For all its troubles, Ilva is one of the largest employers in the south of Italy.

In February and March, as the coronavirus spread in Italy, ArcelorMittal said it would leave Ilva, which, when operating at full capacity, is the largest steel plant in Europe. But the government stepped in to try to convince ArcelorMittal to stay on track.