IRON AND STEEL.

Auckland Star, Volume LXVII, Issue 193, 15 August 1936, Page 13

IRON AND STEEL.

NEW AUSTRALIAN TOWN.

OVER £1,000,000 EXPENDITURE

SYDNEY, August 1,

The State Government foreshadowed 111 a recent transaction the rise of a town and port which will be second to Newcastle as a manufacturing centre outside Sydney. It has sold to Australian Iron and Steel, Limitad, 1(565' acres of land at Port Kembla, a few miles south of the metropolis, on which the company has plans for the expenditure of between £1,000,000 and £2.000.000.

Australian Iron and Steel, Limited, was established some years ago. The Government about 30 years back spent £1,000,000 on a difficult task in the formation of a harbour, but for some reason the- district did not progress in the way anticipated. Other works were established at the port, one of which was Lysaghts' manufacture of galvanised iron. The port is in the southern coal district. The northern coalfields have their port of Newcastle, where the Broken Hill Proprietary, Limited, employs 12.600 hands. The Broken Hill Proprietary Company has acquired a large interest in Australian Iron and Steel, Limited, and, requiring room for further expansion, is setting about the development of the Port Kembla industry.

The agreement made with the Government stipulates that £1,000.000 will be spent within five years. The company, however, expects to expend that amount in about three years, and the industries to be established will include pig iron, steel, galvanised iron, galvanised iron sheets, tin plate and tin containers, wire netting and wire nails and material for motor bodies. An aerodrome is to be laid down and slips for seaplanes, the proposals providing for making aeroplanes and aeroplane parts. The company has acquired in the area purchased from the Government a lagoon with a view to developing it at some future time as an inner harbour.