Acciaierie d’Italia, signed the 680 million loan from Invitalia
The new financial resources for the former Ilva, now Acciaierie d’Italia. The public shareholder Invitalia signed yesterday 13 February, “at the same time as ArcelorMittal Italy Holding and ArcelorMittal sa”, a shareholder loan from 680 million euros. The loan was made “for future capital increases”, explains a note. The financial envelope for the operation has been made available to Invitalia since Ministry of Economy and Finance.
The funding, provided by decree-law of 5 January 2023goes to Acciaierie d’Italia Holding, the company it in turn controls the operating company Acciaierie d’Italia spa.
Debts with suppliers
The funds should allow for Italian steelworks to resume production and at least partially pay off the important debt position accumulated with suppliers. According to rumors, only the share pertaining to energy suppliers, Eni from Snam, would be around 600 million euros. Another 100 million would instead be the credits claimed by associated companies. The funding should also allow the resumption of construction sites and orders to suppliers, stopped last November 14, reports the Corriere di Taranto, precisely because of the company liquidity crisis.
The process of the decree
Within on March 6 the decree that allocated the new resources will have to be converted into law in the near future. Today February 14th the examination of the amendments presented begins in the Industry Committee of the Senate, after having completed the long cycle of hearings. After that the text will come to the classroom to the Senate for the vote and then move on to the House for final approval.