South Australian Premier Jay Weatherill plans to meet a potential investor this week.
South Australian Premier Jay Weatherill plans to meet a potential investor this week. AAP

Arrium: Foreign buyers analyse company's empire

THERE is "no magic solution" to save Arrium's troubled Whyalla steelworks, an economist has said, as international buyers show an interest in the company.

Flinders University professor John Spoehr said he would not be surprised if a Chinese company was investigating taking over Arrium.

The company has debts of more than $4 billion and was placed into voluntary administration last week, putting more than 8000 jobs at risk nationwide.

Professor Spoehr said it would be ironic but very welcome if Chinese investors came to the company's rescue.

"Unfortunately there is no magic solution," he said.

Read more at ABC


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