State’s investment in Pacific Metal Group in October 2022 was described by treasurer Tim Pallas as a ‘win for everyone’
The Victorian government is set to lose millions of dollars it invested in a scrap metal recycling company, after the business went into administration earlier this year.
The Victorian Business Growth Fund investment in Pacific Metal Group, reportedly worth $10m, will probably be lost after the company collapsed in January after a fire at its scrapyard in Laverton North.
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