Previously, ArcelorMittal concerned that the new Italian regulations Crescita law decree would affect its operation of the Taranto plant. However, the Italian government canceled the protection measures against this plant on September 4th, indicating that it could continue to produce.
The main purpose of Crescita law decree was to stimulate the domestic economy to develop and will take effect on September 6th.
In order for Italian authorities to agree with the acquisition of Taranto plant, ArcelorMittal has promised to invest EUR1.15 billion in environmental protection before 2023. Besides, the group definitely held a long-term attitude toward local regulations, operational issues and supervision for the Taranto plant.
Source from Yieh Corp
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