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    February 20, 2024

    CRU: Italy to take over ArcelorMittal plant

    Written by Matthew Watkins

    The Italian government says it will appoint commissioners with specific steel-sector expertise in the coming days to assume control of the Taranto works, which is majority owned by ArcelorMittal.

    The financially troubled operation in the country’s south reportedly owes more than $3.2 billion and is unable to pay most suppliers, nor settle its gas and electricity bills. The government has a 38% stake in the plant via state investment agency Invitalia.

    Matthew Watkins

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