The owner of the Whyalla Steelworks is blaming what he calls a ‘global crisis’ for the loss-making facility’s woes – but say he remains committed to its future.
Sanjeev Gupta has told the Adelaide Advertiser the operation has lost more than $1.3 billion since he bought it out of administration in 2017.
The company has been shedding workers, and local suppliers have complained of late payments.
Mr Gupta’s company, GFG Alliance, has also confirmed the facility’s crucial blast furnace is offline for repairs once again.
Mr Gupta says he believes in Whayalla’s future as much as he did the day he first walked in.
He rejected rumours that safety at the plant had been compromised by a lack of maintenance.
“I … want to underline that as we seek to defend our bottom line, we will never compromise safety,” he told the paper.
Mr Gupta said he believes the future for the steelworks is bright.
“Where others see problems, I see the multi-generational opportunities that Whyalla offers for the future of green iron and steel, a mega-trend that willboos demand and shape our industry for centuries to come.”
