A coal billionaire and an Indian giant on shortlist to save Whyalla
The sale process for Australia's Whyalla steelworks has reached its final stages, with two bidders shortlisted. Coal billionaire Matt Latimore and India's Jindal Steel are vying for control of the facility, which has been in administration due to significant debts. The South Australian and federal governments emphasize the importance of finding the right owner to secure jobs and the future of local manufacturing.
- ▪The Whyalla steelworks is owned by GFG Alliance and was pushed into administration last year.
- ▪Over 70 bidders expressed interest in acquiring the steelworks before narrowing down to two finalists.
- ▪The South Australian government has indicated that up to $1.9 billion in funding is available for upgrades if a new owner is found.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.