BlueScope Steel’s specialist team advising the administrators of the Whyalla steelworks says the plant needs about $180 million to be spent on repairs and maintenance for operations to continue.
The analysis represents a significant blow to KordaMentha’s plans to sell the steelworks, which it has run since February, when the South Australian government seized control from British industrialist Sanjeev Gupta.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com