Ramsey Pleased Preferred Bidder Selected
Posted on Friday, 16 June, 2017
Federal Member for Grey Rowan Ramsey said he is very excited a
preferred bidder has been selected for the Arrium group of companies.
“This announcement brings us another step closer to a successful sale of
Arrium and the Whyalla assets. It certainty provides a reason for Whyalla residents,
workers and business owners to be optimismistic,” he said.
“The decision by the creditors and administrators Korda Mentha to select the Korean consortium
Newlake Alliance Management as the preferred bidder offers a very bright future for Whyalla with an
investment in a new steel plant in excess of $1bn. That level of renewal would
bring a construction boom to Whyalla and greatly improve the jobs market.
has access to Posco's Finex steel technology which produces lots of extra gas
and so it is planned the new plant will include
a sizeable base-load generator which
will have some capacity to not only meet the needs of the plant, but also
contribute the very valuable base load generation to our struggling electricity
Mr Ramsey said the
final sale is subject to approval by the Committee of Creditors and the Foreign
Investment Review Board.
"I can't speak for the creditors, but given that
they have selected this bid one would think that would be forthcoming.
Similarly, can not see any
reason why there should be any problem with FIRB approval,” he said.
seeking some support from the State and Federal Governments.
both governments are working closely together on this deal and I am confident
agreement will be reached in the next few weeks."
Ramsey said after more than a year in administration and the harrowing
uncertainty for workers, families, creditors and businesses in Whyalla, the successful sale is close at hand.
sale process has taken 9 months and it has been tough for the entire region,”
he said. “Knowing that there will be an outcome in the near future
is just what this community needs.”
Contact; Leonie Lloyd-Smith Port Pirie Office.