Prime Minister Justin Trudeau and his Minister of Innovation, Science and Industry, François Phillippe Champagne have made a major announcement for Algoma Steel in Sault Ste. Marie.
Trudeau announced up to $420 million in funding for Algoma Steel’s electric arc furnace steelmaking technology.
Sault Ste. Marie Mayor Christian Provenzano says no level of government has ever provided that amount of money for a project in their community before, which will allow Algoma to modernize in a meaningful way when it comes to the environment.
He adds it will allow Algoma to transform its technological operations, thereby reducing its emissions and its impact on the environment making Sault Ste. Marie a leader in fighting climate change.
The project will reduce greenhouse emissions by more than 3 million metric tonnes per year by 2030, equivalent to removing almost a million passenger vehicles off the road.