MELBOURNE (Reuters) - Liberty Steel, a subsidiary of GFG Alliance, won a contract to supply steel for a tunnel project in the Australian state of Victoria, the state government said on Sunday.
Liberty was awarded a A$124 million ($89.1 million) contract to supply the West Gate Tunnel project in Victoria with 92,200 tonnes of Australian-manufactured steel, the government said in a press release.
The contract is the largest for Liberty Steel since its owner, the privately held Gupta Family Group (GFG), took control of failed South Australian steel company Arrium last year.
Since then, the company has signed contracts worth A$600 million ($432 million) with Italian heavy equipment maker Danieli <DANI.MI> for a steel mill, and China's CISDI engineering, a unit of state enterprise MinMetals [CHMIN.UL], for a blast furnace.
The investments are to be financed by funding sources including the group's own resources and vendor finance, and would "likely require support from the South Australian and Federal Governments," GFG said in December.
GFG plans to list up to 40 percent of its manufacturing, distribution and recycling business in Australia in the first half of the year.
(Reporting by Melanie Burton, Editing by Christian Schmollinger)
