The government does not intend to nationalize the company, the authorities are looking closely at private investors
Italian Prime Minister Giorgia Meloni explained her attitude towards the nationalization of Acciaierie d'Italia (ADI, formerly Ilva), a joint venture between ArcelorMittal and state-owned Invitalia. There will be no state acquisition, on the contrary, the government is keeping an eye on several private investors who have expressed interest in the project. Meloni said this in an interview with the RAI TV channel, Virgilio Notizie writes .
As the Prime Minister explained, emergency management in this case was the only possible choice. According to Meloni, it is not correct to say that the old Ilva is doomed, as there is a market for quality steel in Europe and the Italian government is committed to ensuring the company's continued production.
«I don’t want to nationalize Ilva. I believe there are opportunities to find private investors who are truly interested in making the venture work. There are several of these investors who have already volunteered,” she explained.
This position goes against the wishes of ADI employees, who last year called for the nationalization and recapitalization of Acciaierie d'Italia by Invitalia.
Earlier this week, the Italian government introduced emergency administration at Acciaierie d'Italia, thereby transferring control of the company to government-appointed commissioners headed by Giancarlo Quaranta. As reported by Kallanish, Quaranta has extensive experience with the Ilva group – the company was known by that name before being acquired by ArcelorMittal. Since 2022, he has also led a consortium of Italian steelmakers to explore and develop new opportunities related to the production and supply of direct reduced iron.
ArcelorMittal said Rome's decision ended its participation in ADI, but the company's statement did not mention any plans to take any legal action.
As previously reported by Compraço, Acciaierie d'Italia produced 3 million tons of steel in 2023. According to ADI CEO Lucia Morselli, the company's warehouse stocks reach 1 million tons of raw materials and finished products. Furthermore, the company sold 2.5 million tons, but the period in which sales were guaranteed is not specified.
