The Australian government has committed $1.5bn towards saving the South Australia steelworks seized from Sanjeev Gupta’s GFG Alliance this week, in one of the biggest bets of its plan to revive the country’s manufacturing base.
The move to pump funds into Whyalla, a remote rustbelt town nearly 400km north of Adelaide, comes ahead of an election campaign — with a poll due by mid-May at the latest — that will pitch Labor’s industrial plans and renewable energy targets against the opposition Liberal party’s policies to adopt nuclear power and cut public spending.
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