Taranto-based Italian steel producer Ilva has announced it is preparing to launch the massive investment plan needed to modernize its production facilities in accordance with the Environmental Integrated Authorization (EIA) issued by the Italian government last October. The latest investment figure provided by the company is €2.25 billion.
The economic costs are going to be fully borne by the company itself as previously highlighted by Italian environment minister Corrado Clino, while up to 6,500 workers will be temporarily laid off.
The maximum number of temporary layoffs will fall in the second half of 2014. Between July and December 2014, the company will turn off blast furnaces Nos. 1 and 5, coke oven batteries Nos. 3, 4, 5, 6 and 11, the converter shop No.1, the hot rolling shop No.1 and the plate shop No.1. In this period, the daily crude steel output will decrease to a minimum of about 10,000 mt, which is far less than the 30,000 mt Europe's biggest steel mill is able to produce in a single day when its production facilities are fully exploited. The temporary layoffs will start from March 3 this year and will last until the completion of environmental upgrade works in the fourth quarter of 2015.