The race to acquire the former Ilva steel plant in Taranto has narrowed to two contenders: India’s Jindal Steel and Azerbaijan’s Baku Steel.

Both companies have increased their bids, with Baku Steel emerging as the frontrunner after raising its offer to nearly €1 billion.

Jindal Steel has also upped its proposal, including €2 billion in future investments.

U.

S.-based Bedrock Industries has withdrawn from the competition.

The final decision now rests with government-appointed commissioners, who will evaluate the offers and consult with the Ministry of Enterprises.

Meanwhile, unions and local residents are demanding clear commitments on environmental and safety improvements, as well as state involvement in the plant’s future.