JSW Steel Italy, a subsidiary of India's JSW Steel, together with the Ministry of Enterprises and Production (MIMIT), Invitalia and the Tuscany region have signed a development agreement to modernize the Piombino steel mill and increase industrial activity at the JSW railway rolling mill, Metal Expert reports.
The agreement provides for government assistance in the amount of 33 million euros as part of a 148 million euro project to modernize JSW's railway operations. MIMIT provides 32 million euros, and the Tuscany region provides 500 thousand euros.
According to the head of the Ministry, Adolfo Urso, this agreement is a "historic turning point" in the revival of the Italian steel industry.
The project is aimed at the environmental restructuring of the railway rolling mill, which includes a draft station, a tandem stand and rail reinforcement equipment.
The modernization plan is divided into three initiatives – two environmental investment projects and an industrial research and development project.
The modernization will double the current rail production capacity from 300,000 tons per year to 600,000 tons per year and increase the length of rails from 108 to 120 meters.
