Up to 150 million euro are to be transferred to the special commissioners of the former ILVA Tarantosteelworks now known as Acciaierie d'Italia (AdI) to guarantee operational continuity at the plant recently placed under special administration according to a provision in the draft decree on implementation of the EU- funded national recovery and resilience plan (NRRP) made public on Friday.
The provision states that Ilva in special administration shall transfer to AdI "at the request of the commissioner, sums up to a maximum of 150,000,000 euro" to "ensure the operational continuity of industrial plants of strategic national interest and the protection of the environment, health and safety of workers" .
On Thursday in Milan bankruptcy court declared AdI insolvent, the necessary premise for the installation of special commissionerGiancarlo Quaranta to run the plant pending the identification of possible new foreign partners after multinationalArcelorMittal's term as the majority stakeholder endedacrimoniously.
Quaranta is an engineer with long experience in the steel industry including a long stint at ILVA.
The steelworks, which currently employs some 10,000 workers, have racked up over three billion euros in debts amid an inability to pay its bills and suppliers.
According to the Italian media, Ukrainian group Metinvest is interested in Taranto, as are Italian company Arvedi and VulcanGreen Steel, a unit of Indian group Jindal Steel and Power.
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