The Italian Senate has approved a decree for urgent measures for strategic national interest plants, according to ANSA. The decree, passed on 5 January, allows for the transfer of EUR 680 million to the new Taranto plant Acciaierie d'Italia as a bridging loan to cover debts and avoid legal action, as well as support for other strategic companies. The provision will now go to the Chamber for final approval and must be converted into law by 6 March.The decree also establishes a "shield" to prevent interim sanctions from the judiciary that could affect the continuity of activities at enterprises of national strategic interest. However, the "shield" will only be activated once "organizational shortcomings" are addressed. The approval is expected to restore conditions for the development of Italy's metallurgy industry, which has a significant impact on other small industries in the country's north. Acciaierie d'Italia is a joint venture between state agency Invitalia and ArcelorMittal Italia (formerly Ilva). Recall that at the beginning of the year, the Italian Ministry of Finance officially authorized the payment of a grant in the amount of €680 million to the Acciaierie d'Italia. The company, in turn, confirmed its forecast for plans to produce at least 4 million tons of steel at the Taranto steel plant in 2023. In 2024, the plant plans to reach a production volume of 5 million tons. In the second half of this year, the steel plant will also begin the reconstruction of blast furnace No. 5, which has been idle for several years, and the construction of an electric arc furnace. Besides, in the second half of the year it is planned to restart furnace No. 2.Italy will receive €1 billion from the European Commission for decarbonization within the framework of the Just Transition Fund (JTF). The funds are earmarked for climate transition and economic diversification in areas that are degraded and polluted by industrial exploitation. In particular, we are talking about the province of Taranto. With the help of EU resources, the country intends to support the decarbonization of the Acciaierie d'Italia.
The Italian Senate has approved a decree for urgent measures for strategic national interest plants, according to ANSA. The decree, passed on 5 January, allows for the transfer of EUR 680 million to the new Taranto plant Acciaierie d'Italia as a bridging loan to cover debts and avoid legal action, as well as support for other strategic companies. The provision will now go to the Chamber for final approval and must be converted into law by 6 March.The decree also establishes a "shield" to prevent interim sanctions from the judiciary that could affect the continuity of activities at enterprises of national strategic interest. However, the "shield" will only be activated once "organizational shortcomings" are addressed. The approval is expected to restore conditions for the development of Italy's metallurgy industry, which has a significant impact on other small industries in the country's north. Acciaierie d'Italia is a joint venture between state agency Invitalia and ArcelorMittal Italia (formerly Ilva). Recall that at the beginning of the year, the Italian Ministry of Finance officially authorized the payment of a grant in the amount of €680 million to the Acciaierie d'Italia. The company, in turn, confirmed its forecast for plans to produce at least 4 million tons of steel at the Taranto steel plant in 2023. In 2024, the plant plans to reach a production volume of 5 million tons. In the second half of this year, the steel plant will also begin the reconstruction of blast furnace No. 5, which has been idle for several years, and the construction of an electric arc furnace. Besides, in the second half of the year it is planned to restart furnace No. 2.Italy will receive €1 billion from the European Commission for decarbonization within the framework of the Just Transition Fund (JTF). The funds are earmarked for climate transition and economic diversification in areas that are degraded and polluted by industrial exploitation. In particular, we are talking about the province of Taranto. With the help of EU resources, the country intends to support the decarbonization of the Acciaierie d'Italia.
