A specially formed restructuring and transformation committee signed an in-principle agreement for a debt restructuring for most of the Greensill debt, giving GFG extra breathing space.
Under those plans, the plant would initially use a mix of natural gas and green hydrogen as the reducing agent, before transitioning to green hydrogen as it becomes available at scale. Industry players said the total investment across the electric arc furnace and the plant would be well north of $1 billion.
Federal Climate Change and Energy Minister Chris Bowen said the Whyalla investment was “exactly the kind of investment that industry will make” following the safeguard mechanism reforms.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: