About: http://data.cimple.eu/news-article/f9491f5dcb0912513ef7a38e61cbf75b89983f8ac6ee7b5be871a919     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • Italy will invest one billion euros ($1.2 billion) in a joint deal with ArcelorMittal to rescue the country's struggling Taranto steel plant, the steel giant said Friday. The agreement allows ArcelorMittal, the world's largest steel maker, to maintain partial control over production in Italy and avoids the shuttering of the plant, which employs thousands of people. Under the deal, production will be refocused on lower-carbon steelmaking technologies. "The agreement provides for a significant financial commitment from the Italian state and represents an important step towards the decarbonisation of the Taranto plant," Italy's economic development minister, Stefano Patuanelli, said in a statement. Maurizio Landini, leader of the CGIL, Italy's main trade union, called it a "positive move". ArcelorMittal had announced in 2018 that it was buying Ilva, but backtracked the following year following legal issues relating to the expensive clean-up of the heavily-polluted site. Italy's government has been desperate to save the Taranto plant, an important employer in the south, since the debt-ridden Ilva was placed under judicial administration in 2015. The new deal provides for a capital increase of AM InvestCo, ArcelorMittal's subsidiary, which will acquire the remains of Ilva, according to a press release from ArcelorMittal. Invitalia, a state-owned investment agency, will put in 400 million euros by the end of January, followed by a second tranche of 680 million euros that will leave it with a 60-percent share. ArcelorMittal will also invest 70 million euros for a 40 percent stake, it said. The future entity, which aims to produce eight million tonnes of steel in 2025, "involves a series of public support measures, including ongoing government-funded employment support," said the press release. ArcelorMittal said in June that it would cut about 5,000 jobs out of approximately 11,000 ex-Ilva workers. ube-ams/ar/rl
schema:headline
  • ArcelorMittal, Italy sign ex-Ilva steel production deal
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software