SYDNEY: A steelworks project owned by Indian tycoon Sanjeev Gupta has been ordered into administration by the South Australia government after his GFG Alliance failed to pay royalties.
The South Australian government “has been in receipt of advice from our steel taskforce that the owner of the steelworks’ financial position wasn’t just deteriorating, it was likely to continue deteriorating”, the state’s premier, Peter Malinauskas, told reporters in Adelaide yesterday.
