The Luxembourg government has made a €14.5 million offer to nationalise Liberty Steel’s plant in Dudelange, three ministers said Thursday, revealing the potential price tag for the first time.
The government in July said it would be making a bid to buy the plant, which was declared insolvent last year, but did not disclose the offer price.
Economy Minister Lex Delles, Defence Minister Yuriko Backes and Labour Minister Marc Spautz said in response to a parliamentary question on Thursday that the offer is subject to several conditions. These include maintenance of the properties and guarantee of access upon first request to documents related to the building and facilities.
The ministers also said in response to the parliamentary question that the offer was subject to the government being able to obtain the settlement of all preferential claims, including wage claims and the outstanding balance to be repaid to the ADEM employment body.
The ministers said that they plan to use one of the sites at the former steel works for “economic activities within the defense sector, including the creation of the Defense Campus”. A second site is intended for use as a craftsmen’s workshop.