British industrialist Sanjeev Gupta unveils plan for steel plant in South Australia

by David Fleschen

British industrialist Sanjeev Gupta has unveiled an ambitious plan for a “grand-scale steel plant” in Whyalla, capable of annual exports of 10 million tonnes, as the Australian news portal "The New Daily" reports.

The billionaire on Monday revealed details of what he said could become one of the world’s largest steel production facilities.

Chinese company China Metallurgical Group Corporation has signed on to build the new facility for Mr Gupta’s company, GFG Alliance, if it gets final approval.

Mr Gupta also outlined a $600 million expansion of the South Australian city’s steel mill to lift production to 1.8 million tonnes each year.

He was joined in Whyalla on Monday by Prime Minister Scott Morrison, Opposition Leader Bill Shorten and SA Premier Steven Marshall as he spoke of his vision to grow and secure thousands of jobs.

Source: The New Daily, photo: fotoalia

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