Ex Ilva, green light to the decree from the CDM

The 680 million already allocated will be usable for a future capital increase. Urso illustrates new agreement for the relaunch

Green light from the CDM to a decree law that can also be used by the former Ilva group. The provision relating to “Urgent measures for plants of strategic national interest” approved tonight by the government and presented by the Ministry of Enterprise Adolfo Urso and the Ministry of Justice, Carlo Nordio, 10 articles in all, provides, according to a note, that “the 680 million, already allocated, can be used right now as a shareholder loan convertible into a future capital increase. To these must be added the billion allocated by the Aid bis decree and the resources foreseen for the DRI and the Just transition fund”.

A new agreement between the shareholders of Acciaierie d’Italia, this is what was illustrated in the CDM by the Minister of Enterprise and Made in Italy Urso. The agreement envisages the commitment of the shareholders for: relaunching the production site and consequent employment guarantees by setting production targets higher than those achieved by Adi in the last two years; the industrial reconversion for a green plant and the environmental remediation with the completion of the Integrated Environmental Authorization on schedule; investments related to industrial development and the Taranto Pole, such as the activation of ‘floating’ wind farms, circular economy initiatives through the recovery of by-products (cement works), activation of desalination plants through the recovery of fresh water from the Tara and Sinni, the development of the port through a floating FSRU degasification plant.

To achieve these objectives, Urso explained, the parties have agreed “to modify the shareholders’ agreements by affecting crucial aspects such as shareholding and future governance and determining the financial commitments of the shareholders, with respective commitments proportional to the shareholding”.

Urso also announced that Mimit has convened the ex-Ilva Table for next January 19 with the participation of social forces, trade unions and production associations, representatives of local authorities, public and private shareholders in which the company will illustrate the development plans and industrial and employment commitments.