The Indian-Italian
ArcelorMittal-Marcegaglia consortium on Monday unveiled their
bid for ILVA's steel works at Taranto, saying they would invest
2.3 billion euros in the plant and planned to produce 9.5
million tonnes of steel as well as setting up an R&D centre
there. They also vowed to use new technologies for steel
production with low emissions of carbon dioxide. Arcelor Mittal
of India and Marcegaglia of Italy are one of two consortia
bidding for the loss-making and polluting plant in Puglia. The
other is also Indian-Italian, led by Sajjan Jindal's JSW Steel
and also featuring Arved, CDP, and the Del Vecchio group. Arvedi
is an Italian steel group, CDP is a government bank, and the Del
Vecchio group owns Luxottica, the world's largest producer and
seller of glasses and lenses. Extraordinary commissioners are
managing ILVA as the firm goes through a massive environmental
cleanup and financial turnaround.
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