The fate ofJSW SteelLimited’s Piombino mill in Italy is largely dependent on receiving fresh orders from Italian Railways and if new contracts are not forthcoming alternatives for the facility will be considered, a company official said in a statement on Monday, June 6.
“The losses of the Piombino mill have been reduced. The loss is largely attributable to rail orders that are not sustainable. We are striving for more rail orders. If they come, it is fine. Otherwise, alternatives will have to be thought of,”JSW SteelLimited joint managing director Seshagiri Rao said.
JSW Italy has in the past won rail orders to the tune of around 40,000 metric mt from two contracts by Rete Ferroviaria Italiana (RFI), which oversees Italian railway infrastructure. According to media reports, Invitalia, an Italian government investment promotion agency, is exploring options to pick up a stake inJSW SteelItaly, with the aim of supporting the relaunch of the company.