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International Business Times

Business

Italy Says Baku Steel Submits 'Best Offer' For Ex-Ilva Plant

Baku Italy Adolfo Urso ArcelorMittal United States Azerbaijan Giorgia Meloni Taranto

The site formerly known as Ilva is one of Europe's biggest steelworks (Credit: AFP)

A year after ousting ArcelorMittal, Italy is preparing to hand over control of its giant ex-Ilva steelworks to Azerbaijan's Baku Steel, the industry minister said Thursday.

Adolfo Urso said Baku Steel was deemed to have made the "best offer" out of three bidders for the plant in the southern city of Taranto, one of Europe's largest steelworks, which has struggled for years.

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One subscription that gives you access to news from hundreds of sites

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Knicks champion Karl-Anthony Towns opens up about grief for World Mental Health Day

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