The Italian government intervenes to save the Ilva steel plant

The Ilva steel plant is the largest in Europe in terms of steel production capacity.

The Italian government intervenes in the management of the Ilva plant, in an attempt to reform the business in difficulty. A commissioner will be appointed to manage the factory and may be tasked with preparing its sale.

Ilva, which is a major employer in southern Italy, has faced criticism regarding environmental issues.

Toxic emissions from the Ilva steel plant have been blamed for unusually high cancer rates in the area.

Ilva is a company with private capital and has around 14,000 employees. The plant has been making losses for years and was placed in special administration last year.

Italian Prime Minister Matteo Renzi also tasked the government with identifying polluted areas around the plant. In order to protect the children of Taranto, the coastal city where Ilva operates. The European Commission declared, in October, that the Tamburi area of ​​the city, in particular, was contaminated and asked the government to take measures.

Mr. Renzi declared that the government will consider the nationalization of the steelworks and its subsequent sale, if a buyer is found who is committed to protecting jobs. „We predicted a state intervention of a maximum of 36 months to put Ilva in order and relaunch it,” he told reporters.

The international colossus in the field of steel ArcellorMittal has expressed its interest in the acquisition of Ilva.

Source: http://www.bbc.com/news/business-30599821