Arcelor-Marcegaglia ready to invest (2)

(ANSA) - Rome, March 6 - 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.