Alter Steel has finalised its contract with Italian engineering firm Danieli to supply the technology and equipment for its $750 million steel mill in Pinkenba, Queensland, with the down payment now made to secure delivery. When complete, the facility will produce 500,000 tonnes of reinforcing steel products annually to meet Queensland’s growing construction demand using…
Fitch Ratings downgraded Australian steel manufacturer InfraBuild’s Long-Term Issuer Default Rating to ‘CC’ from ‘CCC-‘ on Monday, citing an elevated probability of default on its USD $550 million notes within the next three months. The ratings agency pointed to InfraBuild’s failure to publish audited financial statements for FY24, which were initially due in October 2024…
InfraBuild CEO Francisco Irazusta reassured stakeholders that operations remain unaffected by the administration of OneSteel Manufacturing, owner of the Whyalla Steelworks, in a statement released on Monday. Irazusta emphasised that InfraBuild operates as an independent business from OneSteel Manufacturing, with its own board, governance, and financing, separate from the wider GFG Alliance. “We’re in a…