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Liberty to upgrade OneSteel with USD 1.2 billion investment-The 19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
9/14/2017 壓鑄展-鑄造展- Die-casting expo-foundry expo |
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North Queensland Register reported that on top of what has already been a busy couple of years for metal product suppliers selling to the farm sector, newly re badged manufacturer, OneSteel, is preparing for a 10-year demand boom. A USD 1.2 billion spending program is on the drawing boards to upgrade Liberty OneSteel’s eastern Australian production sites and product range following British steel billionaire Sanjeev Gupta’s purchase of parent company, Arrium.
His global metals and energy group, GFG Alliance, wants to ramp up production at South Australia’s Whyalla steelworks and boost capacity utilisation at electric arc furnaces and rolling mills in Newcastle, Sydney, and Melbourne.
Visiting the Newcastle site last week he said the one-time BHP steel products plant had been “stifled” of investment.
The Mayfield site is one of the key production plants for the 130-year-old Waratah wire and fencing products brand.
OneSteel is Australia’s only local maker of fencing wire and steel fence posts, among a host of other products derived from its steel rod and beam production lines.
A week ago, at Whyalla, Mr Gupta formally took control and renamed the former Arrium business from administrator KordaMentha, which had run the steel and mining company since it slipped into receivership with debts worth USD 4 billion early last year.
He used the formal handover to highlight the need for the business to make and recycle more steel in Australia, rather than importing it.
The executive chairman of GFG Alliance, whose UK business, Liberty House, has several steel mills in Britain, expects the revitalised Australian company to cash in on wave of government and private infrastructure projects which will likely demand more steel than the Whyalla plant’s current 1.2m tonnes capacity.
He said that capacity at Newcastle was also underutilised. Mr Gupta said a huge pipeline of infrastructure projects ranging from new airports, railway lines and highways through to commercial developments was emerging in Australia.
Steel demand for farms is going very well, and from the fencing point of view there’s been steady growth domestically, and from overseas.
The potential infrastructure boom has been predicted by some, including building products group Boral, as likely to overtake housing as a major driver of the domestic economy in the next decade.
The farm sector has already been making a significant investment in steel for new rural buildings and grain and livestock handling infrastructure, particularly in the wake of livestock prices hitting new highs and rural export initiatives opening up.
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