DOUBTS OVER BIG AUSTRALIAN STEEL PROJECT

摘要

Australian company Kingstream Steel Ltd was placed in voluntary administration Tuesday, casting doubt over the development of its proposed two billion dollar (one billion US) Mid West Iron Steel project in Western Australia.Company chairman Ken Court said the appointment of administrators Bryan Hughes and Vincent smith, of Norgard Clohessy Chartered Accountants, was in the best interest of stakeholders, in view of the company's failure to recapitalise in the short term.