The Whyalla steelworks’ rebirth is a step closer, with a large group of potential buyers expressing interest in the asset.
More than 15 national and international parties remain in contention for the asset, with administrators closing the final expression of interest phase on August 1.
Among them is an international consortium, led by BlueScope Steel alongside Japan’s Nippon Steel Corporation, India’s JSW Steel Limited, and South Korea’s POSCO.
The Whyalla steelworks, one of only two major steel manufacturing plants in Australia, is a critical link in the value chain for iron ore mining operations in South Australia.
The business was placed in administration in February this year, with State and Federal Governments providing additional support to maintain operations while a new buyer was sought.
SA Premier Peter Malinauskas said this was to ensure the next owner was a credible, long-term partner of the business.
“The State Government’s objective has been to transition ownership of the steelworks to a new credible owner who can invest in Whyalla’s future,” he said.
“This strong interest is a positive sign for the future of the Whyalla steelworks and for the future of sovereign steelmaking capability in Australia. Most importantly, this is good news for Whyalla, for our state and for the thousands of people who rely upon the steelworks.”
Sales advisor 333 Capital will now move to solicit indicative bids from a shortlist of the remaining parties.
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