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Italy's ILVA to clean up steel plant to avoid shutdown

Tue, 09/18/2012 - 9:25am
Reuters

ROME (Reuters) - Italian steel group ILVA will invest 400 million euros ($525.48 million)to clean up its plant in the southern city of Taranto and stop further environmental damage in order to avoid a total shutdown, company officials said on Monday.

ILVA's president made the commitment in an industrial plan deposited with judicial authorities and unions.

In July, Italian prosecutors gave the company until the end of September to come up with a plan to clean up Europe's biggest steel plant, after an inquiry found that chemicals pumped from the plant were harming the health of workers and local residents.

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