JSW Steel Italy has signed a program agreement with the Italian government, local authorities and trade unions to advance the revitalization of the Piombino steelworks, providing a framework for implementing the site’s industrial plan while safeguarding employment.
The agreement includes an EUR 148.2 mln (USD 169 mln) investment by JSW to modernize the rolling mill through equipment upgrades, new technologies and research and development initiatives. Part of the investment will be supported by funding from Italy’s Ministry of Enterprises and Made in Italy (MIMIT).
The plan also covers environmental remediation and industrial redevelopment of the Piombino site. JSW committed to retaining the entire workforce employed by JSW Steel Italy, GSI Lucchini and Piombino Logistics, while workers will continue to benefit from available social support measures during the transition.
Piombino is one of Italy’s oldest steelmaking centers, but the site has struggled for more than a decade following the closure of its blast furnace, ownership changes and delayed investment plans, leaving production well below capacity. The latest agreement marks a new phase in the hub’s redevelopment, combining JSW Steel Italy’s modernization of its long steel operations with the Metinvest Adria-Danieli green steel project, which will establish a 2.7 million ton per year DRI-EAF flat steel complex. Together, the projects are expected to restore Piombino as a key steelmaking hub in Italy while supporting employment and future low-carbon steel production.
The agreement forms part of the Italian government’s broader strategy to revive the Piombino steelworks alongside projects involving Metinvest Adria and Trasteel. Quarterly monitoring will be track the implementation of the industrial plan and employment commitments. If the Metinvest project is not fully completed by 2027, JSW will be required to submit a revised business plan to safeguard affected workers.
JSW Steel Italy is the European subsidiary of India’s JSW Group, operating a major steel manufacturing complex in Piombino, Tuscany. The company specializes in long steel products, including rails, wire rod and grinding balls for the mining industry.
1 USD / 0.87 EUR