Azerbaijan bids for Italy’s largest steel plant

The Business and Made in Italy Ministry, at the initiative of Minister Adolfo Urso, has authorized the commissioners who have taken over the running of the troubled former ILVA Acciaierie d'Italia (AdI) steelworks in Taranto to start preferential negotiations with an Azerbaijani consortium led by Baku Steel Company (BSC) and by the Azerbaijan Business Development Fund (ABDF), according to a note published by the ministry.

The note said that the ministry's green light was given after a request presented by the commissioners and the favourable opinion granted by the oversight committee, CE Report quotes ANSA.

The plant in the Puglia city is one of the largest in Europe and a major employer in the region.

The steelworks, which has over 8,000 employees, was put into special administration by the government last year and declared insolvent after the multinational ArcelorMittal's term as the majority stakeholder ended acrimoniously.

The plant has been the subject of legal battles over its impact on the environment and on local people's health for many years.

In 2019, the European Court of Human Rights found that the steelworks had a significant negative impact on the environment and the health of local residents.

Previous owners the Riva family were convicted of causing higher than normal cancer rates in Taranto, especially among children.