Gigino's last gift. Nationalizing Ilva will cost us 10 billion

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The Conte government is about to deliver a very high bill to the Italians. Nationalizing the Ilva of Taranto, due to the repeated slips in the management of the dossier by Luigi Di Maio first, and the Giallorossi executive then, would cost up to 10 billion euros, a third of the budget law. And it would be for Carlo Messina, the CEO of Intesa Sanpaolo, "the plan b" probably under study by the government.

"A large number that includes support for all employees, environmental works and a minimum of industrial development, as well as the potential risk of a penalty to be paid to Arcelor Mittal," Giuseppe Sabella, director of Think-industry 4.0, explains to Giornale. Thus, it would amount to taking full control of Italy's largest steelworks and nationalizing it to "remedy" the economic and industrial disaster designed by former Labor Minister Luigi Di Maio, who closed the agreement between the triumphalisms a year ago . The casus belli – whether or not it is a pretext – which triggered Arcelor Mittal's retreat was born from the choice of 5Stelle and Pd to change the cards on the table and remove the penal shield from the multinational company for environmental reclamation interventions. "Looking at the numbers in detail, Sabella explains if Ilva should be nationalized, the State will have to take on environmental measures and a minimum development plan which, although revised downwards, can only bring the bill to about 3 billion". In his agreement Arcelor Mittal had put about 4.2 billion euros on the plate. "Sabella explains that the cost of labor must be added". In fact, the government does not want to touch the employment levels and therefore should take on about 10,700 employees and about 3,100 employees currently in redundancy. "Considering a gross labor cost of around 36 thousand euros per employee per year, and what was received by senior managers and top managers (between 150 thousand and 200 thousand euros gross a year), it comes to 1 billion a year just for personnel" . A burden that spread over the 5 years in which the multinational had committed itself, brings support to 5 billion. Personnel and investments raise billions to 8 billion. But to these must be added "the possible penalties that Arcelor could obtain from the State for just cause". And calculated in about 2 billion, a figure that is close to Ilva debts that Arcelor would have remedied in Taranto. "A wrong and impractical operation explains the expert also in light of the fact that at the state level would lack the skills for the management of such a delicate sector" that is experiencing a moment of great difficulty due to production overcapacity and competition Asian. Not for nothing Ilva loses 2 million per day and caused Italy to leave the top ten world steel producers.

But the road to nationalization seems to take more and more body. Also considering the weight that Ilva plays not only for the economy of Puglia governed by Michele Emiliano but for the entire country, since steel is a strategic industry. On the former Ilva it is "fundamental to arrive at an agreement with Mittal" or alternatively "the government should evaluate the possibility of nationalizing even if it is potentially in conflict with the EU norms", said the managing director of Intesa Sanpaolo, Carlo Messina yesterday . «Certainly the steel industry is experiencing a difficult time and something has changed compared to the beginning of the negotiation but if today we are not able to reach Plan A, then we must move to Plan B, also considering nationalization, otherwise we lose a strategic asset »For the whole country.



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