The first grant that Acciaierie d'Italia will receive has been approved

Italy's Finance Ministry authorized the payment of a grant of €680 million, the first installment of the €1 billion grant to be paid in two installments to Acciaierie d'Italia. According to the company's statement, the grant will be used to support industrial investment and production capacity. It is known that the company has plans to produce 4 million tons of steel at its Taranto steel plant in 2023 and aims to reach the level of 5 million tons in 2024. Acciaierie d'Italia, which also plans to start the reconstruction of blast furnace No. 5 and the construction of an electric arc furnace in the second half of 2023, also aims to launch blast furnace No. 2 in the same period.