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Whyalla steelworks faces $1B debt crisis; $2.4B rescue plan proposed to save plant and explore green steel.
The Whyalla steelworks in South Australia, under Sanjeev Gupta's GFG Alliance, faces a $1 billion debt crisis, leading to its administration by the government.
A $2.4 billion rescue package is proposed to save the plant, crucial for producing long girders and rails, and to explore "green steel" technology.
The plan aims to settle debts and prepare the facility for potential new private ownership, though public ownership as an eco-friendly industrial complex is also suggested.
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Whyalla Steelworks enfrenta crisis de deuda de $1B; $2.4B plan de rescate propuesto para ahorrar planta y explorar el acero verde.