A section of land at BlueScope’s Port Kembla steelworks site, the size of Sydney’s CBD, will be rezoned for development of a $10 billion industrial precinct as Australia’s largest steelmaker monetises the unused parts of its vast real estate portfolio.

The NSW government has approved BlueScope’s proposal to rezone 2 million square metres of its land at the steelworks in the Illawarra region, allowing industries across advanced manufacturing, renewable energy, technology, education, data and logistics to use the area.