Azerbaijani Group Tops Bids for Taranto Steelworks, Says Minister

Rome: Business and Made in Italy Minister Adolfo Urso announced Thursday that the best offer for the Acciaierie d’Italia (ADI) steelworks in Taranto, formerly known as ILVA, has been made by an Azerbaijani consortium led by Baku Steel. The plant, located in the Puglia city, is one of the largest in Europe and a significant employer in the region.

According to Ansa News Agency, the Azerbaijani offer was one of three bids submitted for the entire industrial complex. Additionally, seven other offers were presented for individual assets. Urso stated that administrators are set to send a formal request to negotiate with the international entity that made the best proposal, which is likely to be the Azerbaijani group.

The steelworks, employing over 8,000 people, was placed under special administration by the government last year after ADI was declared insolvent following a contentious end to ArcelorMittal’s term as the majority stakeholder. The plant has long been embroiled in legal disputes regarding its environmental impact and effects on local residents’ health.

In 2019, the European Court of Human Rights determined that the steelworks had a markedly negative impact on the environment and local health. Previous owners, the Riva family, were convicted of causing higher than normal cancer rates in Taranto, particularly among children.