Tag Archives: Sanjeev Gupta

GFG Alliance, South32 and Anglo American complete TEMCO transaction

GFG Alliance says it has finalised the purchase of the hydro energy-powered Tasmanian Electro Metallurgical Company (TEMCO) smelter in Bell Bay in northern Tasmania, Australia.

After entering a binding sale and purchase agreement with South32 and Anglo American in August, today’s finalisation sees TEMCO join LIBERTY Steel Group as part of the GFG Alliance family, it said.

The smelter, in Tasmania, Australia, was run by the Samancor Manganese joint venture, owned 60% by South32 and 40% by Anglo American.

GFG Alliance Executive Chairman, Sanjeev Gupta, said the acquisition not only secured the jobs of the smelter’s 250 workers but would also play a key role in enhancing LIBERTY’s drive to be self-sufficient in the supply chain.

“When we entered into the agreement in August, I flagged that our investment in key inputs such as ferromanganese and silicomanganese would generate supply chain value to ensure a sustainable and globally competitive steel manufacturing sector,” Gupta said. “This acquisition is an upstream integration for Whyalla and all our steel plants globally.

“The Bell Bay precinct and nearby George Town is a long-standing industrial community with a proud heritage, and we are committed to seeing this facility continue to play an important role in the future of the Australian steel industry.”

The TEMCO facility, which is powered by Hydro Tasmania, has four submerged arc furnaces, including a sinter plant, and has the capacity to produce around 150,000 t/y of high carbon ferromanganese and 120,000 t/y of silicomanganese used in the production of steel, the company said.

“GFG Alliance already produces the lowest carbon aluminium in the world in both the UK and France and I’m proud to add one of the world’s greenest ferro alloy producers to our portfolio,” Gupta said. “Our goal is to be carbon neutral by 2030 and I am proud to invest in a state like Tasmania, which has a plentiful supply of renewable energy resources.”

GFG Alliance strikes finance and accounting pact with WNS

WNS, a provider of global business process management (BPM) services, has announced a new partnership with GFG Alliance to manage the finance and accounting processes for the mining, energy generation, metals, and engineering firm.

The agreement provides further opportunities to expand scope into other support functions for GFG Alliance entities WNS said.

Keshav R Murugesh, Group CEO, WNS, said: “We are delighted to collaborate with GFG Alliance in Australia. We are constantly exploring new ways to co-create future-ready functions with Chief Financial Officers and Chief Human Resources Officers, enabling them to drive the transformation agenda for their businesses.

“We are confident that our strategic capabilities, in-depth business understanding, and robust portfolio of solutions will help us create value that delivers outperformance for GFG Alliance.”

Sanjeev Gupta, Executive Chairman and CEO, GFG Alliance, said the agreement came at the same time as the company underwent a period of rapid expansion.

“This partnership with WNS is in line with our vision, and allows us to share best practice and experience from across the world, facilitating consolidation and optimisation of our operations,” Gupta said

WNS’ F&A function has over 10,500 professionals delivering end-to-end support to the CFO’s office for over 95 global clients, it says.

GFG and Shanghai Electric to power up Cultana Solar Farm project

GFG Alliance’s SIMEC Energy Australia (SEA) has signed a strategic partnership with Shanghai Electric for engineering, procurement and construction (EPC) for the Cultana Solar Farm project, in South Australia.

The agreement was signed by GFG Alliance Executive Chairman and CEO, Sanjeev Gupta (pictured, right), and President of Shanghai Electric, Huang Ou (pictured, left), in the presence of representatives from key supporting financial institutions.

Cultana is the first project of SIMEC Energy Australia’s $1 billion, 1 GW dispatchable renewable energy program in South Australia.

“With capacity of 280 MW, Cultana is expected to produce around 600 GWh/y of energy, powering GFG’s Whyalla Steelworks and a range of key government and commercial customers,” the company said.

“Set to be one of Australia’s largest solar farms, Cultana will deliver a range of benefits to the local community, increasing reliability and security of the state’s electricity supply and environmental benefits. The project is set to boost local employment, with circa-350 positions during construction,” GFG Alliance said.

Sanjeev Gupta, GFG Alliance Executive Chairman and CEO, said: “Cultana Solar Farm is an ambitious project that will deliver globally-competitive renewable energy on a large scale to power heavy industry. It is a great step forward in our vision to revitalise industry and we look forward to working with our partners to bring our renewables projects to life.”

GFG previously announced its ambition to invest in up to 10 GW of large-scale solar and other renewables projects across Australia.

Shanghai Electric, which has global expertise in such projects, including completion of the world’s largest concentrated solar power project in Dubai, will provide EPC for the Cultana project.

The Cultana project will play a key role in the development of the visionary 10 Mt/y Whyalla Next-Gen steel plant project and industry revitalisation strategy championed by GFG, GFG said.

Gupta said: “Our planned Next-Gen project will ignite a new industrial revolution in Australia. These projects are shining examples of GFG’s commitment to create a sustainable future for industry and build stronger local communities.”