Business and Made in Italy Minister
Adolfo Urso said Friday that he will have talks with European
Competition Commissioner Margrethe Vestager about getting the
green light from the EU for a 320-million-euro bridge loan to
keep the troubled ex Ilva steelworks in Taranto operational.
On Tuesday the government put ex Ilva, now called Accaierie
d'Italia (AdI), under extraordinary administration after talks
with the majority stakeholder broke down.
It also appointed Giancarlo Quaranta, an engineer with long
experience in the steel industry, as the extraordinary
commissioner to run it.
The steelworks, once Europe's biggest and which currently
employs almost 10,000 workers, has racked up over three billion
euros in debts amid an inability to pay its bills and suppliers.
"Tomorrow I will be in Copenhagen, where I will also meet with
EU Commission Vice-President Vestager, because we have to be
authorized to give the 320-million bridge loan, which will have
to be repaid, so as not to be subject to the state aid
constraints," Urso said.
"We must therefore document how it will be repaid and, to do
this, the plant must be relaunched".
He said he expected to have the plant back in private hands by
the end of the year.
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