Arrium

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:02): I seek leave to make a ministerial statement.

Leave granted.

The Hon. A. KOUTSANTONIS: I would like to update the house on the sale process of the Arrium business. Today, I was contacted by the deed administrators and informed that there have been two offers by the short-listed bidders for the business. The process from here will involve a thorough review and comparison of the offers in consultation with the sale advisers, Morgan Stanley. Both the state and federal government will now enter detailed dialogue with the administrators.

The successful sale of Arrium to a new owner is vital for the long-term prosperity of the people of Whyalla, South Australia and the nation. We are optimistic that a successful sale will secure the long-term prosperity of Whyalla and the steelmaking industry in Australia. I look forward to working with the administrators, the commonwealth government, unions, bidders, local council and sales advisers over the coming weeks for a successful resolution.