The Federal and South Australian governments have put together a support package to save jobs and encourage investment at the struggling Whyalla Steelworks. The facility, which has 11-hundred direct employees, has been forced into administration by the state government which along with other creditors is owed more than 300-million dollars.
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00:00The Prime Minister was in Wyala today announcing a $2.4 billion assistance package that comes
00:08following the state government's move yesterday to rush legislation through the parliament
00:12and force the wireless deal works into administration, resting control from GFG Alliance.
00:17That comes as debts to the state as well as other creditors climbed into the hundreds
00:21of millions.
00:23As part of the assistance package, $100 million will be set aside for immediate relief, with
00:28$50 million set aside for creditors.
00:31There will also be a further $394 million set aside so that workers and contractors
00:36can continue to be paid whilst administrators look for a new buyer.
00:41Here's what the Prime Minister had to say to the press earlier.
00:44Here in Wyala, 75% of Australia's structural steel is made right here.
00:53And today we met people including someone who's worked here for 56 years.
00:59That says something about how important this is to the lifeblood.
01:04This is the heart of this area in Wyala.
01:09But the arteries spread out right around the country.
01:14Residents in Wyala are cautiously optimistic, however they have heard promises from both
01:19sides of parliament before.
01:21The feeling on the ground is they'll believe it when they see it.