ArcelorMittal Italia and the Ilva Steel Commission in southern Italy have made substantial progress on the acquisition of the Riva steel mill and signed an amended agreement, according to foreign media reports.
The revised agreement revolves around a new industrial plan for the Riva steel mill, which involves investment in low-carbon steelmaking technologies. At the heart of the new industrial plan is the construction of a direct reduced iron facility funded and operated by third-party investors.
ArcelorMittal had tried to abandon the acquisition of the Riva steel mill after the Italian parliament revoked its environmental pollution exemption. Since then, due to local employment opportunities, the two sides have started acquisition negotiations again.
Source: My Steel Mesh
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