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Legislative Council - Fifty-Fourth Parliament, Second Session (54-2)
2021-11-18 Daily Xml
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GFG Alliance

The Hon. T.J. STEPHENS (14:32): My question is to the Treasurer. Can the Treasurer update the council on the progress of GFG in Whyalla?

The Hon. R.I. LUCAS (Treasurer) (14:32): I think members will have been pleased to have read the public announcements a few weeks ago now in relation to the refinancing by GFG and actions that have been taken in relation to court actions from Greensill and related entities against GFG.

Since that time, representatives of GFG have re-engaged with government offices, particularly those within Treasury and possibly also within Energy and Mining, but certainly within Treasury. The former government prior to the election put $50 million on the table with certain conditions, and the Marshall Liberal government when elected said we would honour that particular commitment from the former government, and it is still on the table.

I have answered similar questions over the first three years of this government, saying we were not prepared to have the funding used to help refinance GFG or to pay off debts of GFG. We were, similar to the former government, only interested in looking at the infrastructure or infrastructure related projects designed to improve the efficiency and long-term viability of the steelworks at Whyalla.

Whilst there are commercial-in-confidence negotiations going at the moment and I can't place on the record any of the detail of that, there are discussions going on in relation to certain potential infrastructure projects, within the construct of them being to assist the long-term efficiency and viability of the steelworks, and consistent with the publicly stated long-term vision of Mr Gupta and GFG for the Whyalla Steelworks as eventually being a green steel operation, carbon neutral.

The projects, as I said, on my advice are consistent, at least, with that long-term vision that GFG and Mr Gupta have outlined for the future of the steelworks. I am hopeful that at some stage in the not too distant future there can be some agreement with GFG about a long-term commitment that governments—Labor and Liberal—have given to GFG in terms of the steelworks up there, and certainly if there can be any agreed infrastructure projects consistent with the parameters I have outlined, as Treasurer, the government will happily sign off on those particular projects, if they can be agreed.

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