The Government of Canada is delivering on its commitment to support the dedicated steel workers, their families and their communities.
Today, Terry Sheehan, MP and the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of up to $90 million to Algoma Steel, Canada’s second largest integrated steel producer.
This investment will create and maintain 3,050 jobs in Sault Ste. Marie.
These investments include projects to adopt new technologies, improve productivity, and sustain competitiveness in the global market. Improvements will help Algoma Steel modernize its core production assets including the steel rolling and steel plate mills which will position the company to offer a wider range of steel grades and increase production capabilities.
The government’s investment in Algoma Steel, a world-class steel producer, is ensuring the company will continue to provide thousands of Canadians with good, middle-class jobs and remain important contributors to our economy and manufacturing supply chains. By leveraging multiple funding programs, our government is strategically deploying resources to support the steel sector.
“By investing in Algoma Steel, we’re ensuring the long-term viability of the Sault’s steel operation, thereby supporting thousands of direct and indirect middle-class jobs, as well as the current and future pensioners, that form the backbone of the Sault Ste. Marie and area economy. We’re also ensuring that ASI’s world class steel products continue to make it to market.”
– Terry Sheehan, Member of Parliament for Sault Ste. Marie
“In these challenging times for Algoma, and in the face of unfair and unjust tariffs, we are committed to stand shoulder-to-shoulder with our hard-working steel and aluminum workers, their families and their communities. Our investment will help Algoma innovate, strengthen the competitiveness of Sault Ste. Marie’s steel plant, and support good, middle-class jobs for Canadians.”
– The Honourable Navdeep Bains, Minister of Innovation, Science, Economic Development