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Baku Steel Company and Jindal Steel International have submitted their bids for Acciaierie d’Italia (ADI), formerly known as Ilva, according to the Italian government.
In the latest phase, two additional bids were received from Baku Steel Company CJSC in partnership with Azerbaijan Investment Company OJSC, and from Jindal Steel International. However, no new bids were submitted by Bedrock Industries Management Co. Inc., as per the statement.
Previous bids in earlier stages came from a range of companies and consortiums, including CAR Segnaletica Stradale Srl, Monge & C. SpA, Trans Isole Srl, Eusider SpA, Marcegaglia Steel SpA, I.M.C. SpA, and Vitali SpA.
The Extraordinary Commissioners will now take several days to carefully review the proposals and form their recommendations, which will be sent to the Ministry of Business and Made in Italy.
ADI, located in Taranto, southern Italy, has been under state administration due to challenges in maintaining production amidst rising energy costs and weak demand.