London: India’s JSW Steel Ltd and Algeria’s Cevital have submitted their final bids for the Piombino steelmaking complex owned by troubled Italian steelmaker Lucchini RS S.p.A.

Lucchini, Italy’s second largest steel maker, was previously owned by Russia’s Severstal but was declared insolvent in 2012 and placed under special administration.

The company said on Wednesday that special commissioner Piero Nardi will analyse the bids and submit an initial report to a supervisory committee in Rome on 21 November. Reuters

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