Australia’s BlueScope Steel has partnered with global steelmakers Nippon Steel, JSW Steel, and POSCO to bid for Sanjeev Gupta’s troubled Whyalla Steelworks. The consortium, valued at A$115 billion, aims to make the South Australian plant a hub for low-emissions iron production. The group has submitted a non-binding expression of interest but has yet to make a formal bid. Whyalla Steelworks was placed in administration in February due to debt, prompting a A$1.9 billion rescue package from the Australian and South Australian governments. The sale process opened in June, attracting interest from companies eyeing the green steel economy. GFG Alliance, Gupta’s family conglomerate, was not available for comment.

Read more at Yahoo Finance: Australia’s BlueScope leads global steel giants in push for Gupta’s Whyalla plant