SACE helps revive Italian steelmaker Acciaierie d'Italia

(SteelOrbis, Brescia, 1 July 2021) Invitalia, the public shareholder, by entering the board, is expected to implement contractual commitments, in all a little over €2 billion - €400 million of capital increase - have already been paid, while about €700 million are missing in guarantees for a SACE [Italian export credit agency] loan, plus €900 million in reimbursements and support for variously assorted investments,  Steel magnate ArcelorMittal has so far supported the company with a capital payment of €1.8 billion. Now it is up to the Italian State through Invitalia to do what was agreed, based on the contract that was signed in December 2020, stated Acceaierie CEO Lucia Morselli. She added "The market is favorable and the company is working hard. However, until August 2023 we must comply with environmental constraints that prevent us from accelerating production even more."