Source: Scrap Monster
The Canadian government will invest in a multi-million dollar steel mill upgrade project by Evraz North America aimed at strengthening its operations in western Canada. The announcement to this effect was made by Ralph Goodale, Canada's minister of public safety and emergency preparedness at Evraz’s Regina steel mill facility Wednesday.
Earlier, Evraz had announced an upgrade project at an investment of around CA$112.6 million, aimed at boosting the company’s production capacity of oil country tubular goods (OCTG), reducing emissions and improving efficiency at its various Alberta steel mills located in Regina, Alberta and Red Deer. This is in addition to the investment of around CA$200 million in recent expansion and upgrades at Regina facility.
The grant money will be awarded from the steel and aluminum program of Innovation, Science and Economic Development Canada’s Strategic Innovation Fund (SIF), created last year to support aluminum and steel industries in the country.
The expansion and equipment upgrades are likely to strengthen its operations in Alberta. The government investment is expected to create 35 new jobs in the region, in addition to maintaining more than 2,100 jobs in Regina, Saskatchewan, and Red Deer, Alberta.
According to Ralph Goodale, the investment in Evraz will help strengthen the competitiveness of Regina’s steel plant for years to come. Further, it will halp Canada maintain its position in the global market, in addition to offering middle-class jobs for Canadians. The investment will boost the production of value-added OCTG products so as to meet the rising market demand, he added.