Piombino is increasingly likely to serve as the Italian base for the construction of Metinvest-Danieli's new mill, following the elimination of San Giorgio di Nogaro as a potential candidate. Reports from local Italian media suggest that a meeting held on November 9, attended by key figures such as Gianpietro Benedetti, president of Danieli Group, Adolfo Urso, the Italian minister for business and Made in Italy, the mayor of Piombino, the president of the Tuscany region, and Yuriy Ryzhenkov, CEO of Metinvest, has pointed towards Piombino as the favored location.
Pending a final agreement, which may materialize within the next two or three months, construction of the new mill is projected to commence in the spring of 2024, with completion expected by 2026. The ambitious project comes with a substantial investment totaling €2.2 billion and is anticipated to generate employment for over 1,400 workers.
While local media indicates a positive outcome from the meeting, there are still unresolved matters to address, such as the coexistence of Metinvest-Danieli and JSW Steel Italy in Piombino. The shared objective is to transform Piombino into the new focal point for the Italian steelmaking industry, with Metinvest-Danieli specializing in flats and JSW Steel Italy focusing on long products.
Read More: India's economic outlook: Morgan Stanley predicts 6.5% GDP growth for current and upcoming years
Vietnam Steel by Hoa Sen Group