Premier Peter Malinauskas appears to have lost patience with Whyalla steelworks owner Sanjeev Gupta | Paul Starick

Confidence in Whyalla steelworks owner Sanjeev Gupta seems to have expired and the state government looks to be engineering a new owner, Paul Starick writes.

Premier Peter Malinauskas has lost patience with Sanjeev Gupta’s empty Whyalla steelworks promises and wants to engineer a neat change of ownership.

That much seems obvious from the events of the past fortnight, even if the Premier is doggedly sidestepping direct questions and insisting the government wants Mr Gupta’s GFG to succeed in steelworks investment and transformation plans.

Pointedly, Mr Malinauskas on Friday morning declared there was “an impatience on the ground in Whyalla” and “within the government on GFG to demonstrate actions more than words”.

He sidestepped two questions by The Advertiser, inviting him to express trust in Mr Gupta’s ability to deliver and asking whether his government was trying to engineer a replacement owner.

Premier Peter Malinauskas. Picture: RoyVPhotography

Sanjeev Gupta. Picture Mark Brake

But, as forecast last Saturday, the next stage in Mr Malinauskas’s multistage plan now appears to be finding a new owner, backed by state and federal money likely amounting to more than $1bn.

In the ideal scenario, this new owner would step in swiftly when, and if, Mr Gupta’s company is pushed into administration.

Despite the public stance expressing hope that Mr Gupta can get his company’s finances in order and deliver on his much-vaunted promises, the patience of Mr Malinauskas and his senior ministers has clearly expired.

There will be deep private scepticism within the Malinauskas cabinet about Mr Gupta’s vow to settle global debts and expedite the sale of NSW’s Tahmoor coal mine, pumping the cash into Whyalla steelworks and its creditors.

This will be taken with a grain of salt, given Mr Gupta’s failure to deliver on his succession of grand promises.

There is a widespread view across the state that Mr Gupta is all talk and no action.

There are two big questions. How will the Whyalla steelworks ownership saga unfold in coming weeks, ahead of a federal election?

And how did governments promise so much taxpayers’ money for so long to Mr Gupta and GFG?

Originally published as Premier Peter Malinauskas appears to have lost patience with Whyalla steelworks owner Sanjeev Gupta | Paul Starick