Europe’s largest steel mill will remain open during a two-year clean up operation after the Italian government rushed through legislation to keep the ILVA plant going.
An investigation into health and environmental issues threatened the plant, and the government stepped in, estimating a closure would drain more than eight billion euros from the country’s economy.
However, operators will have to invest 3.9 billion euros to modernise the mill.
The move also saves 12,000 jobs in the southern Italian city of Taranto.
ILVA contributes 75 percent to the GDP of Taranto province, according to the company’s website.
However, there was also sad news for employees on Friday with the recovery of the body of Francesco Zaccaria, 29, a crane operator swept out to sea during a tornado on Wednesday. Saturday will be a day of mourning for twenty-nine year old Zaccaria.
Twenty others were injured when the violent storm damaged the mill.