Business · Companies · 6 hrs ago
Bids due for former Ilva steelworks as hot area remains shut
The deadline for binding bids to buy former Ilva is midnight on November 8.
The steelworks is in Taranto, in southern Italy, and has been under extraordinary administration since 2024.
Its hot-production area is permanently shut following a court ruling, changing the terms of the sale.
Indian group Jindal Steel is seen as a possible bidder, while US group Flacks says it remains in the running; a joint bid led by Federacciai appears unlikely.
The sale could lead to a much smaller steelworks with one electric furnace, which would take about three to four years to build.
In the meantime, up to 8,622 direct employees may be put on wage support, with thousands more in related businesses also affected.
The bid deadline has been extended several times, and the outcome is expected between November 8 and 9.
Binding bids for the former Ilva steelworks are due by midnight on November 8.
The plant’s hot-area operations are shut down, and the sale is proceeding under different conditions from earlier rounds.
Jindal Steel is among the possible bidders, while the Federacciai consortium is considered unlikely to bid together.
A report says the site could become a smaller steelworks with one electric furnace, which would take three to four years to build.
Up to 8,622 direct employees could be placed on extraordinary wage support, with a further 4,500 people affected in related industries, according to Corriere della Sera.
- Who
- Potential bidders include Jindal Steel and the US group Flacks; the Federacciai consortium may not bid together.
- What
- Binding bids are due for the former Ilva steelworks.
- When
- The deadline is midnight on November 8, 2026.
- Where
- The steelworks is in Taranto, Italy.
- Why
- The Italian government is seeking a buyer after Acciaierie d’Italia entered extraordinary administration.
This story does not have two clearly opposing sides.
The sale process began after the Italian industry minister placed Acciaierie d’Italia under extraordinary administration.
The first sale notice received ten responses, including bids for individual assets and the whole group.
The second sale notice received ten responses.
The deadline for binding offers was extended to this date from October 15.
The outcome of the third sale notice was expected to be known, according to Corriere della Sera.
- Bid deadline
- Midnight, November 8, 2026
- Location
- Taranto, Italy
- Potential bidder
- Jindal Steel
- Possible electric furnace
- One, according to Corriere della Sera
- Time to build furnace
- Three to four years
- Workers on extraordinary wage support
- Up to 8,622 direct employees