November 11, 2019 / 11:47 AM / a month ago

Italy's economy minister asks for 'market solution' for Ilva steel plant

FILE PHOTO: Italian Finance and Economy Minister Roberto Gualtieri talks to media before the informal meeting of ministers for economic and financial affairs (ECOFIN) and Eurogroup in Helsinki, Finland, 13 September 2019. Lehtikuva/Martti Kainulainen via REUTERS

MILAN (Reuters) - Italy’s government should consider all available instruments to grant a “market solution” for the Ilva steel plant, Economy Minister Roberto Gualtieri said on Monday.

ArcelorMittal said last week it was withdrawing from a 2018 deal to acquire Ilva’s site in the southern city of Taranto, blaming its decision on a government move to scrap immunity from prosecution over environmental damage in the area.

Gualtieri said that Rome must ask ArcelorMittal to comply with all the commitments it made, but that government should contribute at the relaunch of Europe’s largest steel plant, speaking at a conference in Milan.

Earlier in the morning Barbara Lezzi, a prominent member of ruling 5-Star Movement, asked for state-lender Cassa Depositi e Prestiti (CDP) to intervene to ensure the production at the struggling plant.

Reporting by Claudia Cristoferi, writing by GIuseppe Fonte, editing by Giulia Segreti

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below