<p>Italian Ministry of Economy & Finance’s national development agency Invitalia has announced the creation of a wholly-owned subsidiary DRI d'ltalia Spa that will have the goal of building the first direct r educed iron plant in Italy, a decisive step to relaunch & reconvert, in a green key, the Italian steel sector in line with the strategy of EU Commission of guaranteeing zero emissions by 2050.Italy thus aligns itself with the other European countries that are leading the transition towards carbon neutrality of steel such as Sweden, Germany and France, where pre-reduced production plants are being designed. No indications were provided on where the new plants could be built.</p><p>DRI d'ltalia will start its business by carrying out feasibility studies from an industrial, environmental, economic and financial point of view, for the design, construction and management of pre-reduced production plants. The company has an initial share capital of EUR 35 million, through funds assigned by the Ministry of Economy and Finance. The capital may be increased, even in several solutions, in relation to the evolution of the progress of the activities, up to EUR 70 million.</p><p>DRI d'ltalia board includes Mr Franco Bernabè as Chairman, Mr Stefano Cao as CEO and Mr Ernesto Somma, Ms Tiziana de Luca and Ms Paola Bologna.</p><p>Currently, Invitalia is still engaged in due diligence for taking a stake in JSW Steel Italy. Invitalia has been running Acciaierie d'ltalia, formerly known as llva, since April 2021, through a public-private partnership with ArcelorMittal.</p>
<p>Italian Ministry of Economy & Finance’s national development agency Invitalia has announced the creation of a wholly-owned subsidiary DRI d'ltalia Spa that will have the goal of building the first direct r educed iron plant in Italy, a decisive step to relaunch & reconvert, in a green key, the Italian steel sector in line with the strategy of EU Commission of guaranteeing zero emissions by 2050.Italy thus aligns itself with the other European countries that are leading the transition towards carbon neutrality of steel such as Sweden, Germany and France, where pre-reduced production plants are being designed. No indications were provided on where the new plants could be built.</p><p>DRI d'ltalia will start its business by carrying out feasibility studies from an industrial, environmental, economic and financial point of view, for the design, construction and management of pre-reduced production plants. The company has an initial share capital of EUR 35 million, through funds assigned by the Ministry of Economy and Finance. The capital may be increased, even in several solutions, in relation to the evolution of the progress of the activities, up to EUR 70 million.</p><p>DRI d'ltalia board includes Mr Franco Bernabè as Chairman, Mr Stefano Cao as CEO and Mr Ernesto Somma, Ms Tiziana de Luca and Ms Paola Bologna.</p><p>Currently, Invitalia is still engaged in due diligence for taking a stake in JSW Steel Italy. Invitalia has been running Acciaierie d'ltalia, formerly known as llva, since April 2021, through a public-private partnership with ArcelorMittal.</p>
