The deadline for the submission of final binding offers to acquire the troubled Italian steelmaker Ilva has been pushed back from March 3 to March 6. The postponement has been granted by Ilva's special administrators upon requests from the two joint ventures running in the bidding process, i.e., Acciaitalia, composed of steel producers Arvedi and JSW plus two financial partners (Cassa depositi e prestiti and Delfin), and, secondly, AM Investco Italy, which includes ArcelorMittal and Marcegaglia.
A few weeks ago, ArcelorMittal said it would aim to bring Ilva's crude steel production up to 8 million mt per year, from the current 6 million mt, while JSW’s president Saijan Jindal said that he would aim to increase Ilva's output to 10 million mt.