Government of Canada investment in modernization of company’s facilities to enable lower-emissions advanced steel production
HAMILTON, ON, Oct. 13, 2022 /CNW/ – The transition to a cleaner, more prosperous economy ensures more jobs for Canadians now and for decades to come. By investing in clean technology, we are creating good jobs, strengthening our economy, cutting pollution and building a better Canada.
Today, the Prime Minister, Justin Trudeau, and the Minister of Innovation, Science and Industry, François-Philippe Champagne, participated in a groundbreaking ceremony for a decarbonization project at the ArcelorMittal Dofasco facilities in Hamilton, Ontario. This project was made possible by a Government of Canada investment of $400 million through the Strategic Innovation Fund and is expected to support as many as 2,500 well-paying construction jobs, while also maintaining Dofasco’s strong employment position in Hamilton and providing upskilling opportunities for workers.
This is an important milestone for the project, which will make a significant contribution toward Canada achieving its climate goals, reducing greenhouse gas (GHG) emissions by up to 3 million tonnes per year by 2030. The government’s investment will support ArcelorMittal Dofasco in becoming North America’s first steel producer to transition to a hydrogen-ready, direct reduced iron–fed electric arc furnace at this scale for the development of advanced steels that serve the automotive, construction and manufacturing, and consumer packaging industries. Lower-emissions advanced steel is in high demand for products like electric vehicles. This project is helping Canada be a leader in manufacturing the clean end-to-end goods the global market increasingly demands. The project will result in higher productivity, product quality and energy efficiency at ArcelorMittal Dofasco.
“For generations, Dofasco has been an engine of the Canadian economy and created good middle-class jobs for workers. By investing in Dofasco’s project to move its production to clean steel, we’re investing in the future of this plant and this industry. Together, we can deliver good jobs, create a strong economy, and ensure cleaner air for today and tomorrow alike.”
– The Right Honourable Justin Trudeau, Prime Minister of Canada
“Today represents a major step on our way to a net-zero future. Canadian steel companies are world-class, and this project places Canadian workers at the heart of the future of the steel industry. This project will enable ArcelorMittal Dofasco to produce cleaner, greener steel, while ensuring low-carbon manufacturing, which will make Canadian-made steel more competitive on a global scale. The project will also secure good jobs for Canadian workers and their families in the Hamilton region.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
- Headquartered in Hamilton, Ontario, ArcelorMittal Dofasco is Canada’s largest producer of flat-rolled steel and Hamilton’s largest private sector employer.
- In 2021, the Canadian steel industry employed nearly 24,000 workers and contributed $2.9 billion to GDP.
- The steel industry currently accounts for 7% of global GHG emissions from the energy industries—equal to global aviation, shipping and chemicals emissions combined.
- The project at ArcelorMittal Dofasco and Algoma’s Sault Ste. Marie project announced in 2021 stand to reduce Canada’s GHG emissions by around 1% nationally, representing over a third of the Canadian heavy industry’s GHG reduction goal to meet 2030 targets.
- ArcelorMittal Dofasco has committed to investing an average of $15 million annually on research and development in Canada and to helping develop the workforce of tomorrow through approximately 150 co-op student positions annually.
- The Government of Canada funding provided for this project comes from the Strategic Innovation Fund, under its Net Zero Accelerator initiative.
- ArcelorMittal Dofasco G.P.
- Net Zero Accelerator Initiative
- Strategic Innovation Fund
- Government investing in Hamilton’s steel industry to support good jobs and significantly reduce emissions
Find more services and information at Canada.ca/ISED.
SOURCE Innovation, Science and Economic Development Canada