Troubled Whyalla steelworks gets $2.4bn government bailout as hunt for new owner begins

GFG chair Sanjeev Gupta says SA government is on the wrong course' after it forced the operation into administration

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A support package of $2.4bn will be poured into the Whyalla steelworks to protect thousands of jobs and invest in the nation", the prime minister says.

The federal and South Australian governments would combine dollar for dollar on administration" to ensure the steelworks kept operating, and staff and creditors were paid, while a new owner was found, Anthony Albanese told steelworkers.

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