Business
Sanjeev Gupta buys Tasmanian hydro-powered smelter to help aim of producing carbon-neutral steel – The Guardian
The investment by British billionaire industrialist, who is also investing in renewables for his Whyalla steelworks, will save 250 jobs
A company headed by British billionaire Sanjeev Gupta has bought a hydro-powered smelter in northern Tasmania, saving some 250 jobs at the facility, and furthering Guptas aim of becoming a carbon-neutral steelmaker by 2030.
The future of the Tasmanian Electro Metallurgical Company manganese alloy smelter had been up in the air for the best part of a year.
Owner South32 revealed on Thursday it had entered into a binding agreement to sell the facility to GFG Alliance, which is chaired by Gupta.
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