The South Australian government has signed an agreement with steelmaker GFG Alliance to begin commercial negotiations on supplying green hydrogen from its $593 million Whyalla project for steel production at the company’s nearby Whyalla Steelworks. GFG Alliance expects to use the purchased hydrogen for a green iron and steel pilot production facility before transitioning completely…
Steel and aluminium magnate Sanjeev Gupta has made an impassioned call for Australia to use its natural resources to produce green hydrogen for export but also to embrace green steel manufacture and export. Speaking at an AmCham meeting in Adelaide on Thursday, Mr Gupta, chairman of GFG Alliance, announced investment to boost the company’s output…
The refinancing of Sanjeev Gupta’s GFG Alliance two weeks ago has kick started work on plans for a massive, world-scale GreenSteel investment by the company which would transform its Australian operations centred on the Whyalla steelworks on upper Spencer Gulf in South Australia. @AuManufacturing understands negotiations have been underway in recent days involving GFG and…
GFG Alliance’s Sanjeev Gupta has refinanced debt for the Whyalla steelworks ending speculation the collapse of a financier to the company threatened the closure of the works.
The company has secured a $430 million refinancing of the steelworks and his Tahmoor Coal operations to replace funds provided by the collapsed group Greensill Capital.
GFG Alliance said in a statement that the Greensill debt would now be repaid in full.
Port of Whyalla: Goods news for the steelworks from Sanjeev Gupta
“GFG Alliance is pleased to announce that Liberty Primary Metals Australia has agreed terms to refinance its Greensill exposure.”
Premier of South Australia Steven Marshall said the much improved performance of the Whyalla Steelworks had contributed to the refinancing.
“Our Government remains a steadfast supporter of the people of Whyalla, the local Council and of course the steelworks and the Middleback Ranges mining operations.
“The South Australian and Federal governments have worked closely together to give potential financiers the confidence to back Whyalla.
“This is the outcome all South Australians were hoping for and I look forward to the Whyalla Steelworks continuing its transformation as a key employer in Whyalla and the Iron Triangle.”
