Closing the ILVA plant in Italy will cost the country's economy 5 billion euros per year

According to Reuters agency, the full stop of production at the ILVA problematic station will cost local manufacturers of metal structures and equipment with losses of 5 billion euros annually.

The head of the Antonio Gotsti Association Association told Reuters that the ILVA metallurgical enterprise was forced to suspend the production of steel and metal rolling in the city of Taranto and today is the issue of the final folding of the plant in connection with the imposition of the arrest in the framework of the anti -corruption investigation of 8.5 million tons of steel in 2011.

Anthony Gotszi informed Reuters to representatives. that "the additional costs of the Italian industry will be from 2.5 to 5 billion euros, which will put engineering on the brink of bankruptcy and cause a chain reaction in industries depending on the metal production."

The stop of metallurgical production in Taranto will enable importers to raise prices for steel and metal rolling by 50 - 100 euros per tons, explained the head of the Italian steel manufacturers. About 5 million tons of metal products used by the Italy economy should be replaced by imports. The capacities of the ILVA plant are capable of providing more than 30% of the total production of steel in the country.

Despite the greater redundancy of metallurgical capacities in Europe, companies as Fiat need large amounts of metal rolling at a competitive price to just survive. If the question arises of acquiring sheet rental in Germany or France, the local car industry will encounter an inflated price for steel. "The Italian government is obliged to realize the importance of the steel sector for the country's economy as a whole," said Anthony Gotszi.

Based on the information we have, the Italian government will gather today for an emergency meeting on the ILVA plant. The representative of the Italian government said that "today the ball is on the side of the government field and on Friday, December 30, we will develop and sign the necessary documents to restore production at the ILVA station room."