Inside the R1.1bn SA Steel Mills deal now under scrutiny – The Mail & Guardian

Inside the R1.1bn SA Steel Mills deal now under scrutiny – The Mail & Guardian

Previously unreported affidavits have raised new questions about due diligence processes and a flawed business case upon which the Industrial Development Corporation (IDC) relied to provide more than R1.1 billion funding to SA Steel Mills (SASM), a steel manufacturing company based in Meyerton east of Johannesburg. A source with knowledge of the matter told the Mail & Guardian that two suspended IDC employees are facing a disciplinary enquiry fo…