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Italy to temporarily nationalise troubled steel plant

The site in Taranto in the Puglia region of southern Italy, which employs over 14,000 people, will be nationalised under a decree adopted by the cabinet, with the view to then putting it up for saleItaly’s cabinet on Wednesday said the country’s loss-making Ilva steel plant, one of the most polluting in Europe, would be nationalised for up to three years. The site in Taranto in the Puglia region of southern Italy, which employs over 14,000 people, will be nationalised under a decree adopted by the cabinet, with the view to then putting it up for sale. The decree also earmarked up to 30 million euros ($36.56 million) for the Puglia region for a cancer centre dedicated particularly to children, as well as a pledge to clean up the southern Italian city’s port. No other offers have come in yet to save the steelworks, which have the biggest output capacity of any plant in Europe.

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