Arrium confident of fed funds before poll

The administrators of Arrium, which went into voluntary administration in April, are confident about securing federal funding before the July 2 election.

The administrators of troubled steel and mining group Arrium are confident the steelmaker will secure a federal funding commitment before it goes on the market later this year.

KordaMentha is meeting with commonwealth and South Australian governments in Adelaide on Tuesday to talk about its proposal for Arrium, which went into voluntary administration in April.

"Some of those funds, we'd like to see before June 30 and some over a three-year horizon," Mark Mentha told AAP on Monday.

"Some are vital for the budget over the next year and we're selling the business based on the financial year 2017 forecast."

KordaMentha expects the restructure and sale of Arrium to be complete by the end of the year.


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Source: AAP



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