GFG Alliance

Mr TELFER (Flinders) (14:33): My question again is to the Treasurer. Can the Treasurer provide to the house the value, structure and security of any South Australian government super senior funding facility available to GFG Alliance?

The Hon. S.C. MULLIGHAN (Lee—Treasurer, Minister for Defence and Space Industries) (14:33): As I indicated to the house yesterday in some detail, there is a funding facility that has previously been announced by the government for GFG for the purposes of investment in the steelworks. That amount of money was made available between the time of GFG purchasing the steelworks after Arrium and its trading business OneSteel going into administration in 2016 in an effort to provide a further incentive for the steelworks to be invested further in, to upgrade the capital equipment of the steelworks and to try to transition these very longstanding, productive operations into more efficient, more cost-effective, more profitable and more sustainable operations into the future. That money remains available for investment in the steelworks.

As I articulated to the house yesterday, there are a range of conditions the government has had in place since that time, since 2017 off the top of my head when that funding was first made available, and to date those funds have not yet been provided. The government has not provided those to GFG and they remain available for investment in the steelworks as long as those conditions are satisfied.

As I said yesterday, and as I repeat today, the purpose of making those funds available is to invest in the plant and equipment and the future sustainability of the plant's operations, not to meet current day-to-day operating costs.