Steel talks to call for Federal funds
SA's Premier and senior ministers will discuss taxpayer-funded investment in the Whyalla steelworks on Tuesday afternoon.
Premier Jay Weatherill will join Treasurer Tom Koutsantonis and Regional Development Minister Geoff Brock at the Whyalla steelworks for a meeting with Arrium management.
They will also hold discussions with the plant’s administrator Mark Mentha, unions, and a local supplier.
Arrium had almost $4 billion in debt when it went into administration just under a month ago.
The SA Government has already announced an interest-free loans scheme to support small businesses that have been caught short by the collapse of Arrium.
Mr Koutsantonis says the “working capital” loans should help keep businesses alive while they await word on Arrium's future.
“A lot of these supply chains are symbiotic,” he said.
“If you look at their credit lists, there's each other's names on all their respective credit lists.
“So it's very important we keep that supply chain ecosystem alive.”
Mr Koutsantonis said any taxpayer-funded rescue package for Arrium was still in its negotiation phase.
He hinted that the package would hinge on a Commonwealth contribution.
“[Industry] Minister [Christopher ] Pyne has done exceptional work for South Australia in the last seven days,” he said
“I do expect the Commonwealth Government to co-invest in Arrium with the State Government.
“A state of 1.6 million taxpayers cannot do this alone.”