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ArcelorMittal And Marcegaglia Submit Offer For Ilva

ArcelorMittal and Marcegaglia announced they have today submitted an offer for Ilva, the Italian steel-making company. The announced investment commitments of over 2.3 billion euros in addition to purchase price. They plans to produce 9.5 million tonnes of finished products.

They commits environmental capex of more than 1.1 billion euros, including remediation capex, to reach optimal environmental performance in key areas including air emissions and water treatment; industrial capex of more than 1.2 billion euros, including catch-up capex for delayed maintenance and major capex program for blast furnaces and steel plants, including reline of blast furnace 5.

They plans to increase production from current levels to 6 million tonnes a year by 2018 from three blast furnaces currently in operation, in compliance with the AIA; Maximise finishing capacity by bringing up to 4 million tonnes of slabs and hot rolled coil (HRC) to Ilva; to increase primary production to 8 million tonnes plus over the longer term, supplemented by 2 million tonnes of additional slabs and HRC.

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