ArcelorMittal and representatives of the government Commission of Italy's steel plant Ilva intend to sign on Wednesday an agreement that will end the four-month dispute about the future of the plant in the South of the country, said lawyers on both sides.
the Largest steel company in the world tried to abandon the deal to buy Ilva, closed in 2018, after the Parliament rejected ArcelorMittal's legal immunity from prosecution for environmental risks during the modernization of the plant.
ArcelorMittal, the Decision on withdrawal was a blow to the coalition government. Industry Minister Stefano Patuelli said that the steel giant used legal case to avoid potentially losing trades.
Initially, Rome and ArcelorMittal have agreed to develop a new industrial plan for the loss-making site, which employs about 8,000 workers in the city of Taranto. The dispute ended in court, when ArcelorMittal had asked about the output from Ilva and the government filed a complaint against the decision of the steelworker out of business.
ArcelorMittal Lawyer Ferdinando Emanuele and the lawyer authorized representatives Ilva, Enrico Castellani said the Reuters news Agency that the agreement will be signed on Wednesday, and that both parties will ask the court of Milan to abandon its claims.
Lawyers said that the details of the transaction will remain confidential.
