Italian steel producer Arvedi S.p.A. has announced an €82.5 million investment in its steel plant in Cremona, aimed at expanding production of non-grain-oriented (NGO) electrical steel for electrification and automotive applications.
The investment project, named ARVES, has received support from Italy’s Ministry of Enterprises and Made in Italy, with state investment agency Invitalia authorized to manage the development agreement.
Under the program, public incentives could reach up to €22.5 million, subject to final approval.
The investment will focus on producing NGO electrical steel, a strategic material widely used in:
- Electric motors
- Generators
- Energy-efficient industrial equipment
The project also includes:
- Upgrades to secondary raw material recovery systems
- Modernization of the vacuum treatment plant
- Research and development of lower-carbon steel grades for automotive applications
According to the Italian government, the project is considered strategically important for both industrial competitiveness and regional employment growth.
Arvedi reported €5.7 billion in consolidated revenue in 2024, with net profit of €92 million, reflecting continued investment in high-value steel products linked to Europe’s energy transition.
VietnamSteel by Hoa Sen Group
