The Italian government has reported that six international and domestic companies have expressed interest in acquiring the steelworks of Acciaierie d’Italia (ADI), previously known as Ilva. The interested parties include India’s Vulcan Green Steel and Steel Mont, Ukraine’s Metinvest, Canada’s Stelco, and Italian firms Arvedi and Marcegaglia.
This development is significant for Italian Prime Minister Giorgia Meloni, as the potential closure of ADI would have serious repercussions for Italy’s manufacturing sector. The main plant located in Taranto is one of Europe’s largest steel facilities and a crucial employer in the economically challenged southern region of Italy.
During a meeting with trade unions, Industry Minister Adolfo Urso mentioned that the government expects to launch a tender process by the end of the month. The government took control of ADI’s operations earlier this year amid financial difficulties, including rising energy costs and declining rolled steel prices, which led to significant debts with suppliers like energy group Eni and grid operator Snam.
Canada’s Innovation Minister, Francois-Philippe Champagne, has supported Stelco’s bid in discussions with Urso. Metinvest, Ukraine’s largest steelmaker, is exploring international production sites to mitigate losses from the destruction of assets, such as the Azovstal steel plant during the ongoing conflict in Ukraine. Vulcan Green Steel is part of the Jindal Steel Group, which has already initiated plans to revitalize the Piombino steelmaking site in Tuscany.