Mr Sanjeev Gupta Pays Tribute to Spiritual Home of Whyalla
The Guardian reported that steel tycoon Mr Sanjeev Gupta in a letter published by The Advertiser has described Whyalla as his spiritual home. He wrote
The Guardian reported that steel tycoon Mr Sanjeev Gupta in a letter published by The Advertiser has described Whyalla as his spiritual home. He wrote “Whyalla will always be a special place for me; I have said before it is my spiritual home, I’ve made many friends since I acquired the business, both in the community and among our workforce. And from the beginning what I have admired most is their resilience.”
He added “In summary, we are maintaining operations as usual; we’re benefitting from strong tailwinds in steel and iron ore markets and high demand for our products in Australia, and our refinancing discussions are progressing very positively. We have already received multiple offers for refinancing from large lenders for our integrated mining and steelworks business in Whyalla and Tahmoor. We are now in advanced stages of due diligence.”
The letter seems to be part of a charm-offensive and follows another published in British newspaper The Times on Friday where Mr Gupta lashed creditors of Greensill Capital for making it difficult to recoup their money through knee-jerk actions.