energy

JSW Steel Italy announced the signing of an agreement with Creon Capital with the aim of developing the renewable energy, LNG, logistics and related industrial activities in the area of Piombino port. On September 15th, JSW Steel presented the Piombino 2030 Industrial Plan.

The new industrial plan for JSW Steel Group’s Italian companies, known as Piombino 2030, was presented on September, 15th at the JSW Steel Italy headquarters in Piombino. JSW Steel Italy’s Vice-President, Marco Carrai, the Undersecretary for Economic Development, Alessia Morani, the President of the Tuscany Region, Enrico Rossi, and the Mayor of Piombino, Francesco Ferrari, were present at the event.

Other participants were the Social Partners, representatives of the Province, of the Ministry of the Environment, of the Ministry of Labour, Invitalia, the Upper Tyrrhenian Sea Port System Authorities and the State Property Office. The meeting was also attended by all the financial partners involved in the industrial plan.

The industrial plan, which envisages an initial investment of 84 million euro thanks also to the participation of Invitalia, as announced in the same office by the Undersecretary for Economic Development Alessia Morani, is divided into two phases: the first, in the short term, aims to make the rolling plants more efficient, complete the product range and bring the company to satisfactory profitability. The second phase, in the medium term, targets over the next five years the return to steel production through the use of the electric furnace and the construction of a multicentric industrial complex that also includes logistics, manufacturing and environment activities to be carried out with selected partners in the individual sectors and financials.

“We are proud to present the business plan today, even in a difficult economic situation. I would like to thank all those present here for making this relaunch a reality” – said Marco Carrai, Executive Vice President JSW Steel Italy – “Invitalia, as announced today by the Undersecretary for Economic Development Alessia Morani, will support this first phase, aiming to relaunch the company and make it productive again. We hope that Piombino will once again become a key industrial place, starting from our core business, steel, and safeguarding all jobs”.

“We had made a commitment and respected it. For some months now I have been following the dispute with Minister Patuanelli. The first commitment we had made was the possibility for the State to enter the capital of JSW Piombino and this will be achieved in the coming weeks through Invitalia, which will enter with 30 million euros” – said the Undersecretary for Economic Development Alessia Morani – “The second commitment was on a regulatory level and took shape last week, with the approval of the simplification decree, regarding the rail orders for the Piombino factory, thanks to which we created the ideal conditions ensuring a continuity that guarantees economic peace of mind for the company and, of course, for the workers. I believe that the policy must be done in the following way: for commitments and concrete results. On the 24th there will be a meeting at Mise to update the addendum that necessarily follows the approval of the industrial plan. With Jindal, all the institutional partners and with the help of the trade union, we hope to guarantee a future for this factory, which is the heart of the city, as soon as possible”.

In recent weeks, JSW Steel Italy announced the signing of an agreement with Creon Capital with the aim of developing the renewable energy, LNG, logistics and related industrial activities in the area of Piombino port and the start of a dialogue with the ship builder Fincantieri to assess the possibility of allocating some areas within the Piombino industrial site to shipbuilding activities and large reinforced concrete cellular modules for maritime infrastructure.

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JSW Steel Italy Piombino S.p.a., Piombino Logistics S.p.a. e G.S.I. Lucchini S.p.a. are part of the diversified JSW Group in India, which has a leading presence in sectors such as steel, energy, infrastructure, cement, sports, among others. Today, JSW Steel Ltd. is one of the leading integrated steel companies in India with an installed capacity of 18 MTPA.

Since 2008, the UAE-based renewable energy company Masdar hosts the Abu-Dhabi Sustainability Week (ADSW) to promote green technologies and renewable energy as cornerstones for a cleaner global energy sector. This year, CREON Group is committed as a sponsor of the World Future Energy Forum. A large delegation of specialists participates in the exhibition and forum discussion. More than 5.000 visitors visited the several sectoral summit and the exhibitions.

It is common knowledge that Arab countries such as the United Arab Emirates have achieved economic prosperity thanks to traditional energy sources. But some might still underestimate, that especially the UAE accelerated to the world leaders in terms of investments in new energy sectors. Their state policy in the field of renewable energy is based on the principles of sustainable development formulated by the UN and regionally ensured by active government support of investments in the new energy sector such as renewable energy and green technologies. During the Abu-Dhabi Energy Week, the Minister of Energy of Saudi Arabia, Prince Abdulaziz Ibn Salman Al Saud, predicted that the share of gas and renewable sources in the energy balance of the kingdom will increased significantly. Among renewable energy sources – not only solar and wind, but also hydroelectric power plants.

Sultan Ahmed Al-Jaber, UAE Minister of State and Chairman of Masdar, announced the goals of sustainable development of the emirates for the next 30 years: “At the national level in the UAE, we have increased our portfolio of renewable energy sources by more than 400% in the last 10 years, and we are on the path to doubling it again over the next 10 years. ” By 2030, the country plans to reduce greenhouse gas emissions by 25% and reduce the share of water use from natural sources to 0.5%. The Masdar Chairman stated that «the UAE not only talks the talk but walks the walk towards renewable energy. Because it is right and makes perfect economic sense».

It is no coincidence that the headquarters of the International Renewable Energy Agency (IRENA) is located in the UAE capital. The eco-city of the future Masdar City was built here, and since 2006 the company of the same name Masdar has been operating, through which the Abu Dhabi sovereign fund invests in green projects in 25 countries of the world. Khaldun Khalifa Al Mubarak, CEO of Mubadala Development Company, considers his main task “to act now, given the climate changes that threaten not only future generations, but the very existence of our planet.”

Green technologies and environmentally friendly energy solutions are in line with the investment objectives of the fund managed by Creon Capital, which is regionally oriented towards the emerging markets of Eurasia. The fund is constantly looking for new opportunities for clean energy. Fares Kilzie, Chairman of the Board of Directors of Creon Capital, explains why such solutions for the energy sector will be most in demand: “In parallel to traditional types of energy, Russia and the CIS countries are beginning to show interest in renewable energy and environmental solutions. The result is green projects worth trillions of dollars. As the country diversifies toward clean energy, it will also continue to invest in the responsible production of traditional forms of energy. We urge the majors of the Russian oil and gas sector, who have extensive capabilities and all the necessary infrastructure, to engage more actively in the implementation of green technologies and renewable energy sources. ”

Pictures:

84 million euros for the relaunch of JSW Steel Italy

Abu-Dhabi Sustainability Week supported by Creon Capital