July 24, 2015 – Sault Ste. Marie, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Essar Steel Algoma Inc. will benefit from up to $60 million from the governments of Canada and Ontario to strengthen its global competitiveness by supporting technological and product innovation at its integrated steel mill in Sault Ste. Marie.
The funding, announced today by federal and provincial officials, will enable Essar Steel Algoma Inc. to adopt world-class technologies that will improve its production processes, and increase the range and quality of its steel sheet and steel plate products. This includes improving the company's signature technology at its Direct Strip Production Complex, the only facility in Canada that converts liquid steel directly into steel coils.
These activities are part of a more than $240-million project being undertaken by the company. The project, anticipated to be completed by 2022, will ultimately lead to the development of transformative, unique-in-Canada products, while providing high-quality jobs at the steelmaker's facilities in Sault Ste. Marie and throughout its supply chain.
The Government of Canada's investment, supporting activities through 2018, is being delivered by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) through the Advanced Manufacturing Fund (AMF). The Government of Ontario's investment is being delivered by the Ministry of Northern Development and Mines through the Northern Ontario Heritage Fund Corporation (NOHC).
Erica Furtado
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599
Media Relations
FedDev Ontario
416-954-6652
FedDevOntarioMediaRelations-RelationsMedias@feddevontario.gc.ca
Eric Bianchini
Senior Communications Advisor
Office of the Honourable Michael Gravelle
416-327-2394
Julia Bennett
Media Relations, Communications Branch
Ministry of Northern Development and Mines
416-314-6275
Julia.bennett@ontario.ca
