The extraordinary commissioners of Steelworks of Italy and Ilva – both in extraordinary administration – inform in a note that they have sent to the Ministry of Enterprise and Made in Italy "a request for authorization to start a preferential negotiation with the Azerbaijani consortium driven by Baku Steel Co. Cjsc (Azerbaijan's metallurgical giant since 2011, ed) to Azerbaijan Investment Company Ojsc“. The latter, in particular, was founded in 2006 by Government of the Republic of Azerbaijan which holds its entire capital.
The news had been anticipated during the day by the Minister of Enterprise and Made in Italy Adolfo Urso.
Ex Ilva: The Best Offer? The Choice is Baku Steel
“The decision – the commissioners added – was reached at the end of a careful and in-depth analysis of the relaunch offers received. The selection process evaluated several factors, including the financial solidity of the candidates, the industrial sustainability of the respective proposals and the employment benefits and for local communities”.
The extraordinary commissioners underline that "in compliance with the complexity of the negotiations for the future of the steel hub, the negotiation process will be conducted with the necessary confidentiality, ensuring the protection of the industrial, employment and social interests involved".
Ex Ilva: How Much is Baku Steel's Offer?
The final decision will be up to Palazzo Chigi, then the negotiation with the unionsThe offer put on the table by Baku, preferred to that of Jindal International, would amount to over one billion euros, or 500 million warehouse valuation plus 600 million for the purchase of the plants. With the promise of other 4 billion to invest in the next few years.
Ex Ilva, new shareholder structure: what will the State do?
At the stage of exclusive negotiations with the Azeris it will be necessary to decide whether the State will enter the new group with a 10% share held by Invitalia, to be authorized with a specific regulation. And the following could also come back into play, with a participation Indians di Jindal Steel International.
Ex Ilva: employment stability and new production cycle
In the details of Baku's proposal, the actual employed should be about 7 thousand (down from the current 9773 employees, to which are added the over 1700 of Ilva in As). The production cycle would be based on a single blast furnace e two electric ovens, which over time should become three (while the blast furnace would be closed in the medium term). Production would thus reach a maximum of 6 million tons. The procedure for the review of the Integrated Environmental Authorization (Aia) is now underway, which will however have to receive the green light from the Ministry of Health for the evaluation of the health damage.
There is caution among the unions, who do not hide some fears for job security.
