Ilva Steel Plant

ArcelorMittalsaid on Wednesday it had signed a deal that would see a significant injection of Italian state funding into the Ilva steelworks and would suspend a bid to walk away from the troubled plant, which it took over in 2018. The accord provides a respite in the four-month dispute that has seenArcelorMittal threatening to hand back Ilva to the...

JSW, leading a consortium called AcciaItalia, said it would put up 1.85 billion euros ($2.09 billion), which is broadly in line with the winning bid, and added it would "immediately" hire 9,800 employees. It had originally offered about 1.2 billion euros.

Large portions of the factory were sequestered by magistrates in 2013 on accusations that owners were responsible for an environmental disaster.

An Italian fugitive who played a key role in running one of Europe's most polluted steel plants was extradited from Britain on Friday and arrested in Rome.

Ilva, privately-owned by the Riva family, is Europe's largest steel plant by output capacity and is of strategic importance to the southern European steel sector, where it supplies carmakers and other manufacturers.

ArcelorMittalsaid on Wednesday it had signed a deal that would see a significant injection of Italian state funding into the Ilva steelworks and would suspend a bid to walk away from the troubled plant, which it took over in 2018. The accord provides a respite in the four-month dispute that has seenArcelorMittal threatening to hand back Ilva to the...

JSW, leading a consortium called AcciaItalia, said it would put up 1.85 billion euros ($2.09 billion), which is broadly in line with the winning bid, and added it would "immediately" hire 9,800 employees. It had originally offered about 1.2 billion euros.

Large portions of the factory were sequestered by magistrates in 2013 on accusations that owners were responsible for an environmental disaster.

An Italian fugitive who played a key role in running one of Europe's most polluted steel plants was extradited from Britain on Friday and arrested in Rome.

Ilva, privately-owned by the Riva family, is Europe's largest steel plant by output capacity and is of strategic importance to the southern European steel sector, where it supplies carmakers and other manufacturers.