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Italy proposes new plan to rescue ArcelorMittal

Christian Fernsby ▼ | December 10, 2019
Italy is negotiating a new plan with ArcelorMittal to save the Taranto steel plant that involves partial state ownership, Prime Minister Giuseppe Conte said on Monday.
ArcelorMittal Italia
Italian industry   ArcelorMittal Italia
"What I can say, without revealing secrets, is that the participation of public companies is anticipated," Conte said at an energy presentation in Rome.

Topics: Italy ArcelorMittal

"We are ready to do our part to make this plan more efficient and credible. And make the industrial plan even more sustainable," Conte added.

Italy considers the steel mill a strategic industrial site and faces pressure from unions, which are trying to protect the 8,000 jobs at risk.

Economic Development Minister Stefano Patuanelli said the state had a role to play, along with ArcelorMittal.


 

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