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Countless Prospective Buyers Set Their Sights on Whyalla Steelworks

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The Whyalla Steelworks in South Australia has become a focal point of international interest following its administration, attracting a diverse array of potential buyers from both Australia and abroad. State and Federal officials recently visited the Eyre Peninsula to discuss the upcoming transition to new ownership, which is expected to extend into next year.

Premier Peter Malinauskas, alongside Federal Industry Minister Tim Ayres, revealed that 33 potential buyers, predominantly from India, Japan, and South Korea, are keen on acquiring the facility. Malinauskas expressed optimism about the future, stating, “There is now confidence that we’ve got a plan into the future.” Selected bidders will gain access to the steelworks’ financial records to aid in formulating their initial offers.

While highlighting the urgency of the sale, Ayres noted the importance of ensuring the right decision for the facility’s future. Since the steelworks transitioned from Sanjeev Gupta’s GFG Alliance to administration four months ago, 75 new employees have been onboarded, demonstrating positive momentum. The stabilisation of the steelworks has had a favourable impact on the local economy; for instance, Avid Engineering, a local firm that previously faced challenges due to unpaid debts, has seen its workforce expand nearly fivefold.

Tony Angel from Avid Engineering noted growing optimism in the community, stating, “People are looking up now.” He emphasised the interconnectedness of the steelworks and the town’s vitality, remarking, “If this steelworks isn’t here, there’s no town here.”

Despite these advancements, Malinauskas cautioned that a sale may not be finalised until late next year, underscoring that expressions of interest differ significantly from actual purchases. He confirmed that additional state funding has been allocated to ensure the plant’s continued operation during this transitional period and expressed hope that the Commonwealth would contribute further financial assistance.

In summary, the future of the Whyalla Steelworks remains uncertain but is buoyed by significant interest from potential buyers and a commitment from government officials to navigate the sale process judiciously, ensuring the plant’s longevity and the wellbeing of the local community.

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