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Cultana Solar Farm is a proposed solar farm to be constructed north of Whyalla by SIMEC Energy Australia (part of the GFG Alliance).Construction is expected to begin early in 2020 after development approval was granted in May 2019.
In 2017, GFG Alliance purchased Arrium's Whyalla Steelworks in South Australia, announcing that a new AUD600 million investment would lift production to 1.8 million tonnes a year. In 2018 the company announced it would build a new steel manufacturing plant next to the existing one.
The Whyalla Steelworks circa 2009. The Whyalla Steelworks is a fully integrated steelworks and the only manufacturer of rail in Australia. Iron ore is mined in the Middleback Range to feed the steelworks, resulting in the distribution of finished steel products of over 90 different grades.
Citibank N.A. has lodged an application with Australia's Supreme Court of New South Wales to wind up two businesses run by Indian-British steel magnate Sanjeev Gupta as part of insolvency measures.
The GFG Alliance had relied heavily on the failed finance company. Sanjeev Gupta’s GFG business empire faces fraud probe amid Greensill links Skip to main content
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GFG Alliance was Greensill’s biggest client and it was reported at the time of the collapse that it had an exposure totalling $5bn. [13] In April 2024, Grant Thornton, the administrators for Greensill, published a report where they revealed that they were still owed round $587.2m (£472m) from the GFG Alliance.
The Federal Government refused, however in 2017 British consortium GFG Alliance settled on terms of a purchase of the steelworks with administrators Korda Menthe. [60] Since the purchase, GFG Alliance has invested in Whyalla in a number of ways including a $1.37 billion renewable energy project. [61]