Arrium was placed in administration in April after failed negotiations with its lenders amid sustained low commodity prices.
Mr Shorten made the announcement today (thur) in Whyalla, alongside Premier Jay Weatherill.
"A Labor government, if elected, would support the South Australian proposition of saving Arrium. Specifically we would provide $50 million in grant funding and $50 million in loan facilities to line up with SA's offer of $50 million and use that as the basis for the administrator to be able to ensure there is capital expenditure to secure ongoing steel production at Whyalla and the related steel operations. We do this because we believe in Labor, that Australia must be a steel-making nation,” he said.
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