Italian diversified company Ragosta Group, which operates in the steel sector as well as in food and real estate, has filed an official request to local government in order to build a new electric arc furnace (EAF) mill in Riardo, Caserta, in southern Italy. With the aim of building the new mill, the group has already established a subsidiary company Feracciai S.r.l.
Ragosta Group owns the Casoria, Naples-based long steel rolling mill IMI Sud Laminati, which has an annual production capacity of over 300,000 mt and a workforce of about 300 employees.
The group's investment in the new project would amount to €100 million, while the annual raw steel production capacity would reach 700,000 mt.
The project still has to be assessed by the local authorities. Some controversy surrounds the application as the proposed site lies close to the springs used by a well-known brand of water. However, Ragosta Group has affirmed that the project is state of the art and conforms to the most modern and environment-friendly standards.