Gupta's gamble

December 11, 2018

Conservative Party leader Cory Bernardi has welcomed the vote of confidence in country South Australia represented by a sweeping plan to revitalise the South Australian coastal city of Whyalla by British industrialist Sanjeev Gupta. Mr Gupta's GFG Alliance promised on 10 December to build a massive new steel plant to sit alongside the upgraded existing steelworks there. The Prime Minister, Opposition Leader, Premier and state Opposition Leader were all present for the 'Big Reveal' in Whyalla.

The Advertiser reports, the current steelworks will receive a $600 million upgrade, creating a maximum capacity of 1.8 million tonnes and securing 2500 jobs.

A new $45 million four-star hotel will be built in the town, there will be a $145 million investment in a new horticulture business and a $6 million organics recycling business will be established.

Senator Bernardi has told Paul Murray Live on Sky News, it's wonderful news for a South Australian region whose prosperity had been in doubt, despite the fact that a large component of the investment will be spent on massive renewable energy generation.

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