The 400 million that ArcelorMittal expects from Invitalia has yet to reach the Mef company. The latter, therefore, “is awaiting the decisions of the competent Ministries but confirms that the Government is actively working to ensure that in the shortest possible time and even before the decision that will define this judgment, the signing and full release of the first capital increase “.
With a letter, Domenico Arcuri, CEO of Invitalia, reassures ArcelorMittal about the state investment in the steel company capital with a payment of 400 million that will lead the public partner to acquire 50% of the governance. Arcuri writes to Ondra Otradovec for the corporate ArcelorMittal, which is based in Luxembourg, and to the CEO of ArcelorMittal Italia, Lucia Morselli, with registered office in Milan.
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The latter company manages the plants in Taranto, Genoa, Novi Ligure, Racconigi and the other sites of the group through a rental contract stipulated with the Ilva property in extraordinary administration. Meanwhile, the Minister of Economic Development, Giancarlo Giorgetti, has convened the trade unions for March 26 at 10, at Mise. A few days ago, Fim, Fiom and Uilm had written to the minister reminding him of the discussion he had already had on the ArcelorMittal issue and urging a deeper discussion in the face of the critical situation in which the steel group finds itself. The unions had also told Giorgetti that they would have convened themselves at the Mise precisely on March 26 if there had not been a hint from the Mise.
What the steel company had written
As for Arcuri’s letter to ArcelorMittal, it is in response to a previous letter from the steel company. The latter had briefly recalled that on 10 December an agreement had been signed which provided for the State investment with a sum of 400 million; that the expected green light from the European Antitrust had arrived in January; that the deadlines for the payment of the 400 million from Invitalia had been exceeded in February and nothing had actually happened. For these reasons, ArcelorMittal warned Invitalia, announced the recourse to international arbitration and the request for payment of interest accrued in the meantime.
The 400 million also aimed at the Taranto site
Invitalia, appointed on May 19 by the Mef as a public investor for a partnership with ArcelorMittal, now clarifies to the latter that “the declared purpose of this investment is the relaunch of the steel sector and the acceleration of the transition process towards production technologies with the lower environmental impact “.