Italy's Ministry of Enterprises and Made in Italy (Mimit) announced that it has signed a Program Agreement with India-based JSW for the restart of the historic steel plant in Piombino.
According to the ministry's statement, the agreement establishes the framework for implementing the business plan prepared for the facility while also guaranteeing the full preservation of employment for the workforce.
Under the investment plan prepared by JSW, the existing facilities will be upgraded, new technologies will be introduced, and a research and development (R&D) project aimed at developing the most suitable technological solutions will be launched. The plan also includes the modernization of the rail rolling mill.
Part of the total investment amounting to EUR 148.2 million will be financed through public support to be provided by Mimit.
The ministry further stated that, in line with the commitments made by Minister of Enterprises and Made in Italy Adolfo Urso during his recent visit to Piombino and to trade union representatives, the agreement envisages safeguarding the employment of all personnel working within JSW. In this context, job security for employees of GSI Lucchini and Piombino Logistics will also be ensured.
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