BlueScope Leads Consortium Eyeing Gupta’s Whyalla Steelworks

BlueScope Steel said it is heading an international consortium that has submitted an expression of interest for Sanjeev Gupta’s Whyalla steelworks in South Australia. The group includes Japan’s Nippon Steel, India’s JSW Steel and South Korea’s POSCO, according to people familiar with the plan. The consortium is reviewing strategic options for the loss-making site and intends to lodge a formal bid if due-diligence findings are satisfactory. Whyalla, owned by Gupta’s GFG Alliance, has struggled with high costs and financing pressures, making a sale a potential lifeline for the plant and its workforce.