Wedyes 700 million for the former Ilva. The Ministry of Economy and Finance, has “arranged the disbursement of the financial endowment equal to 680 million euros for Invitalia (minority shareholder with 38%), so that it can transfer the sum without delay to Steelworks of Italy".
To the former Ilva 680 million from Invitalia
These are essential resources for the implementation of the new plan which has the development of green steel as its cornerstone, but above all – in a shorter time frame – to allow the company to meet high bills and repay debts. As explained in early January by the president of Acciaierie d'Italia, Franco Bernabe, in an interview with Corriere della Sera: "the funding will serve on the one hand to support the significant increases in the energy bill (considering that the gas bill alone has gone from 10-20 million per month to 100 million with peaks of 150) . But most of all, debts with energy suppliers paid, during 2023 the situation will normalize if the plants are released from seizure and at that point the company could go back to being bankable, i.e. it will be able to return to apply for bank loans.
The meeting with the trade unions
In the meantime, further details emerged during yesterday's meeting with the Fim, Fiom and Uilm unions. The 680 million will in fact also be used to “support the industrial investments and production capacity”. The company reported that it has planned a 2023% increase in production for 15, which however is considered insufficient by the workers' representatives.
“The company has confirmed the forecast of producing at least 2023 million tons of steel in Taranto in 4 with the aim of reaching 5 in 2024. Acciaierie d'Italia has also confirmed that during 2023 the investments will also concern the plants of Genoa with the strengthening of the tin cycle, that of Novi Ligure”, he says Gianni Venturi, steel manager for the national Fiom-CGIL.
“The 750 million euros must be linked to the modernization of the plants, to the start of decarbonisation and to guaranteeing a concrete employment, environmental and industrial perspective, they cannot be used only to pay the bills, it would be a fatal mistake. Until I see the elimination of workers in the Cig, the return of workers of those in extraordinary administration and the guarantee for contract workers, a concrete industrial perspective, I will continue without stopping to do what a trade unionist must do: stimulate the Government and the company to safeguard employment and the future of production”, he asked Rocco Palombella, general secretary of Uilm in a note.
USB did not participate in the meeting.
