Re: Site of new steel mill

["Alex Pout" <alpout@optusnet.com.au>]

Maurie Daly <mauried@tpg.com.au> wrote in message
3a90c8c2.35458580@can-news.tpg.com.au">news:3a90c8c2.35458580@can-news.tpg.com.au...
> On Mon, 19 Feb 2001 03:35:57 GMT, dbromage@fang.omni.com.au (David
> Bromage) wrote:
>
> >Despite all the publicity about the proposed new steel mill in Newcastle,
> >I haven't been able to find out the actual location. The NSW government is
> >to provide $240 million in port and rail facilities.
> >
> >Also, does anybody know exactly what type of steel and what products
> >Austeel is proposing to make?
> >
> >In somewhat related news, Graincorp is proposing to expand its operations
> >at Newcastle.
> >
> >Cheers
> >David
>
>
> There was an article about this on the ABC news last week.
> Project is worth 2.4 B , but the spokesman for the consortium who are
> pushing the project was evasive in the extreme about how its going to
> be funded.
> Also mentioned was that it will source its iron ore from the
> Pilbara,but again no details about transport modes.
>
> Also mentioned was the loss of the Lithgow Aluminium smelter to
> Gladstone in Qld.
>
> MD
>

The Newcastle Herald (fine body of reporting, I know) had most of the details
about the mill last week, on Wed or Thurs, including the finance details for
it (IIRC 1/3 from the Industrial Bank of Japan, 1/3 from debt, and 1/3 from
technology partners).

The difference, from what I saw, about this scheme is that all the financial,
operational and governmental constraints have been passed when it was
announced.  After all, there's no better way to kill a project than to spread
some half-truths about it (look at the Airport rail link in Melbourne at the
moment).

Al