Cevital to create jobs at Lucchini steelworks

(AGI) Rome, Dec 8 - Algerian industrial group Cevital haspromised to create new jobs at the Lucchini steelworks over thenext four years. In an interview with leading news agencyAgenzia Giornalistica Italia (AGI), CEO Isaad Rebrab confirmedthat investments to the tune of one billion euros were to bemade. The group recently acquired Lucchini, which India's JSWSteel Limited had also bid for. Mr Rebrab said the effect ofthe investment would be a significant increase in jobs. Currentstaff at the steelworks would gradually be reabsorbed accordingto existing structural requirements, and the remainder would be

(AGI) Rome, Dec 8 - Algerian industrial group Cevital haspromised to create new jobs at the Lucchini steelworks over thenext four years. In an interview with leading news agencyAgenzia Giornalistica Italia (AGI), CEO Isaad Rebrab confirmedthat investments to the tune of one billion euros were to bemade. The group recently acquired Lucchini, which India's JSWSteel Limited had also bid for. Mr Rebrab said the effect ofthe investment would be a significant increase in jobs. Currentstaff at the steelworks would gradually be reabsorbed accordingto existing structural requirements, and the remainder would berecalled as the investments progressed. He explained that theaim was to take part in the expansion of the port of Piombino,helping it to become the leading Mediterranean port and a hubfor all five continents. The intention was also to focus on newinvestments, although these would remain centred on Piombinofor the time being. The first step was to bring steelproduction back up to its original level of two million tonnes- the blast furnace had been shut down on Apr. 24. With regardto the one billion euro investment, Mr Rebrab explained thatthree projects were envisaged: the first concerned modernisingand increasing the capacity of the blast furnace, for anestimated 150-200 million euros. The second was related to thelogistical platform, 150 million euros. The third concernedinitiatives in the agro-industrial sector, consisting of takingpart in restructuring and redeveloping the port of Piombinoover a period of five to seven years, the time required for theprovision of the investments. The port would become a meetingpoint for Europe and Africa, the Americas and Asia. The groupwould then see what else it could achieve, aside from theseinvestments. Its activities would generate over 12 milliontonnes for the port of Piombino. . .