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NEWS
Italian metallurgical plant Ilva has stopped part of its capacity
In accordance with the agreement signed in December last year, the state development
agency Invitalia had to invest 400 million euros in AM InvestCo until February 5, 2021. The
second tranche in the amount of 680 million euros was scheduled for May 2020, while the
share of Invitalia in AM InvestCo was to increase from the current 50 to 60%. As reported
by ArcelorMittal, no money has been received at the moment. Therefore, the company is
decommissioning part of its capacity in order to reduce costs. They will be returned to service
only when Invitalia transfers funds.
According to trade unions, one of the converters, a hot rolling mill, a plate mill and a
welded pipe production line have been shut down at the mill. This has significantly exacerbated
the shortage of sheet metal in Italy, which has been observed on the local market in recent
months.
www.allmetals.ru
4 Stanochniy park
