In addition, the government also is working with JSW Steel to further expand production at the site, now called Acciaierie d’Italia, Reuters said. 

ArcelorMittal took control of Acciaierie d’Italia in 2018 currently owns 62% of the business. The remaining stake is held by state-owned investment agency Invitalia. 

The business is struggling, and last week the Italian government proposed a plan to buttress its capital, proposing that Invitalia invest EUR320 million in the mill and raise its stake to 66%. 

However, the plan fell apart after ArcelorMittal would not guarantee that it would provide further investments.