Italy initiated exclusive negotiations with an Azerbaijani consortium for the sale of Acciaierie d’Italia (ADI), formerly Ilva. The consortium, comprising Baku Steel and Azerbaijan Investment Company, was selected after a detailed evaluation of financial strength, industrial sustainability, and social impact.

ADI’s commissioners formally requested the Italian Ministry of Enterprise and Production (MIMT) to begin discussions. The steelmaker was placed under special administration last year, prompting a government tender. ADI received 10 bids, with three for the entire business and seven for specific assets. Baku Steel and Jindal Steel International later increased their offers.

Production at ADI’s Taranto plant is set to rise, with a target of 3.5 million tons in 2025, following the restart of blast furnace No. 2. Last year, the plant produced 2 million tons of steel.