Ex Ilva, Jindal: we will not renew interest in assets

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iron metallurgy

"We strongly deny", according to a tweet posted on the group's Twitter channel, the press rumors that "Jindal Steel & amp; Power could renew its interest in the Taranto steel plant »

by Matteo Meneghello

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(AFP)

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The Indian group Jindal denies an interest in the assets of the former Ilva, after ArcelorMittal's retreat. "We strongly deny", says a tweet posted on the group's Twitter channel, the press rumors that "Jindal Steel & Power could renew its interest in the Taranto steelworks".

The Jindal position
Jindal reiterates the lack of interest that emerged yesterday (see Il Sole24 Ore today). "It is not true, there is no such plan." Contacted by the Sole 24 Ore, the headquarters of Jindal south west, from Mumbai, also denies the news of a possible interest of the Indian group in the Ilva affair. Another industrial source contacted by the Sole 24 Ore increases the dose and describes a Sajjan Jindal, chairman of Jsw, who has long been well informed about the Taranto case but uninterested in any kind of involvement.

Visit to Italy
Thursday 7 November was the Italian day of the Indian entrepreneur, leader of the steel player that last year took over the assets of the former Lucchini di Piombino. A journey planned for some time, focused, at least according to what emerges from the official meetings, to keep the commitments made for the development of the Tuscan site. Jindal was in Piombino, and then he went to Rome to meet the leaders of RFI. Probably, in this second meeting, we talked about the existing contracts for the supply of rails, of which Jsw Italy is the only Italian manufacturer. The company, it is not a mystery, expected more from the last ban of 450 thousand tons, from which it obtained a slice of only 184 thousand, with most of it divided equally among foreign competitors.

In Piombino, on the other hand, according to the institutions and trade unions, the businessman confirmed his willingness to invest in the development of the site, also in the relaunch of the hot area, a prospect that, looking at the current market, would seem unlikely. The steel industry, however, is cyclical, and often a competitive advantage can be obtained with the ability to look beyond the short term.

In this regard, Jindal did not provide concrete details: "we continue to wait to know what the future will be – Mayor Francesco Ferrari said yesterday, knowing that within a few months answers must arrive". The unions reported that Jindal "reaffirmed its commitments, announcing investments on the three rolling trains" and stressing that it "wants to increase the productivity of the plant. It is not enough to invest in rolling trains, it is necessary to go back to producing steel ». A choice that could be strategic if indeed Taranto's production capacity, today 60% of Italian output, should fail. "However – they conclude – he has not given us answers on this".



Source link
https://www.ilsole24ore.com/art/ex-ilva-jindal-non-rinnoveremo-interesse-gli-asset-ACRcHex

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