Feds funnel funds to Tenaris
Sault Ste. Marie member of parliament Terry Sheehan has delivered on behalf of Prime Minister Justin Trudeau and the governing federal Liberals.
Via the federal government’s strategic innovation fund, Tenaris Algoma Tubes has received $16 million towards the company’s $36.3 million upgrade project.
The funding is projected to help Tenaris maintain more than 500 jobs in both the Sault and Calgary. Additionally, the federal boost is expected to create as many as 90 full-time jobs locally.
Sheehan called the federal government funds that will be directed to Tenaris “critically important to the local steel industry … this demonstrates how our government is continuing to make the steel industry a priority in Canada. Since being elected, I’ve fought tooth and nail for our local steel industry. And I will continue to do so.”
Meantime, Tenaris Canada president Guillermo Moreno noted that the federal government assistance will not only create up to 90 “full-time, well paid, middle class” jobs in the Sault but is expected to result in the recall of 200 employees who have been laid off for close to a year.