Arthur Sinodinos (NSW, Liberal Party, Minister for Industry, Innovation and Science) Share this | Hansard source

I thank the honourable senator for his question, of which he gave some notice. As the good senator said, the administrator KordaMentha has announced a preferred bidder, Newlake. It is not the government who decides the bidder; that is KordaMentha and the Arrium committee of creditors. KordaMentha have of course undertaken extensive due diligence on the validity of each of the proposals in coming to their determination. We as a government are involved in the process and are holding discussions with the preferred bidder announced by KordaMentha. The government has always said it would engage with those who have a long-term plan for Whyalla for a sustainable, globally competitive steel industry. That is what we want. We want jobs that will last there for 10, 20 and 30 years. That is what we are about.

In regard to requests of government in the process, the Commonwealth and South Australian governments have in place a task force that is jointly assessing any requests for government support. That task force is supported by financial and technical advisers on both sides. Any government support will of course be supported by appropriate due diligence and subject to key conditions to ensure that there is a long-term plan for Whyalla.