Industry

Eurallumina, bridging solution pending release of shares and accounts

The government allocates almost 10 million to keep the factory running and protect the workers, while the lifting of the action blockade linked to sanctions against Rusal is awaited.

(Imagoeconomica)

2' min read

Translated by AI
Versione italiana

2' min read

Translated by AI
Versione italiana

A six-month bridging solution to keep the Eurallumina Portovesme plant standing, 'secure the workers' and safeguard the EUR 300 million relaunch project. There is a small brightening, and it comes from the meeting at Mimit, in the dispute concerning the future of the Sulcis plant that, under the control of the Russian Rusal, dealt with the transformation of bauxite into alumina.

The blocking of accounts

The company has to deal with the freezing of accounts and shares carried out by the SFC (Financial Security Committee) as part of the sanctions against Russia.

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It was precisely this aspect that was at the centre of the meeting at the Ministry of Enterprise and Made in Italy, which was attended by Ministers Urso and Calderone and Undersecretary Bergamotto, representatives of the Sardinian region and trade unions.

13 days on the silo

To press for a solution, in recent weeks, the workers (today around 40 carried out a sit-in under the Mimit) had barricaded themselves on the plant's silo at 45 metres for 13 days.

A bridging solution

Today the bridging solution, although it does not resolve the dispute, is considered a step forward. 'For six months the Mef will allocate the resources to keep the factory standing and avoid liquidation,' comments Francesco Garau, Filctem's regional secretary, 'this will make it possible to secure the workers, but it is clear that the most important knot must be unravelled, which concerns the freezing of resources, because only in that case will the investments of over Rusal 300 million go ahead.

On the horizon is the re-launch project with the prospect of restarting the plants and the forecast of employment benefits for around 1,500 people.

Positive judgement

"The commitment of the ministries in charge to provide employment and environmental continuity for the next six months at Eurallumina through the funds made available of almost EUR 10 million is positive," Filctem, Femca and Uiltec commented in a note. "It is important that this time does not pass without the problem of unfreezing Rusal's shares being resolved. Because only through this can the resumption of production and the development of Eurallumina be determined through the commitments that Rusal itself has put forward for new industrial investments'.

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