Indian steelmaker Steel Mont and Oman's Vulcan Green Steel (VGS) have expressed interest in acquiring the assets of Acciaierie d'Italia (ADI), the troubled Italian steel producer. Representatives from both companies recently visited ADI's plants in Genoa, Novi Ligure, and Taranto to assess the facilities.

Rumors suggest that ADI's assets may be divided into separate units, with the Taranto plant potentially undergoing a "green" transformation. ADI officials have promised trade unions that two blast furnaces (BF) at the Taranto plant, No. 1 and No. 4, will be replaced with electric arc furnaces (EAF), with the modernization expected to commence in the first half of 2025.

Currently, the Italian plant is operating at a minimal level, utilizing only BF No. 4. The preliminary restructuring plan envisions the launch of BF No. 1, 2, and 4 by 2025 to reach an annual production capacity of 6 million tons of steel. The electric arc furnaces are scheduled for commissioning in 2027, while there are no plans to restart the long-idled BF No. 5.

The Italian government is preparing to invest €150 million in the Taranto plant and is lobbying the European Union (EU) to provide an additional €320 million loan once a clear restructuring plan is in place. Furthermore, the interim administration is considering a €600 million loan from a group of banks to support the restructuring efforts.

Five multinational companies, including Steel Mont and VGS, have expressed interest in acquiring Acciaierie d'Italia, according to Italian Minister of Enterprise and Production Adolfo Urso. Three of these companies are reported to have well-structured projects for the acquisition.