A memorandum of understanding has been signed in Berlin for the proposed USD 800-million Hunter Specialty Steels Ltd. (HSSL) facility in New South Wales (NSW). Stainless steel and specialty products will be produced at the facility, eliminating current imports and generating exports. The agreement was signed with HSSL, a joint venture between Australian Overseas Resources and Boulder Steel, during a meeting with the company and Siemens Ltd. It outlines NSW government involvement in provision of the infrastructure. The agreement will be refined when private-sector finances have been secured. Siemens’s participation in the project will include mill design, equipment supply, supervision of erection, commissioning and assisting in all aspects of project finance (debt and equity).