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Regular-article-logo Tuesday, 07 May 2024

Mittal rethink on Ilva

Conte said the Mittals were available to start immediate talks to decide on a new shared future for Ilva

Reuters Rome Published 23.11.19, 07:18 PM
Rome and ArcelorMittal are on the brink of a harsh legal battle as the latter tries to walk away from a 2018 deal to buy the troubled Ilva plant in the southern city of Taranto.

Rome and ArcelorMittal are on the brink of a harsh legal battle as the latter tries to walk away from a 2018 deal to buy the troubled Ilva plant in the southern city of Taranto. (Shutterstock)

ArcelorMittal has agreed to immediately restart talks with the Italian government over the future of steelmaker Ilva, Prime Minister Giuseppe Conte said after a four hour-long meeting with the company’s leaders.

Rome and ArcelorMittal are on the brink of a harsh legal battle as the latter tries to walk away from a 2018 deal to buy the troubled Ilva plant in the southern city of Taranto.

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The Indian steel maker has blamed the Italian government’s move to scrap previous guarantees of legal immunity for a massive clean-up operation at Ilva’s heavily polluted site.

Conte said the Mittals were available to start immediate talks to decide on a new shared future for Ilva.

“The aim...is to get to a new industrial plan, with new production solutions and new ecological technologies allowing the highest effort in cleaning up the environment,” Conte said late on Friday after a meeting in Rome with chairman and chief executive Lakshmi Mittal and his son Aditya Mittal, the group’s chief financial officer and CEO of ArcelorMittal Europe.

Arcelor Mittal said on Saturday the meeting was “constructive”.

“Talks will continue with the aim of reaching an agreement as soon as possible for sustainable steel production in Taranto,” it said.

To facilitate the talks, the government will ask for the postponement of a court hearing scheduled for November 27 over an urgent appeal filed by Rome to try to stop ArcelorMittal’s planned decision to shut down Ilva.

“We’re ready to allow this postponement under the condition that ArcelorMittal agrees to keep plant working and production flowing during talks,” Conte said.

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