Federal government invests $16 M in Tenaris
- July 28, 2019
The federal Ministry of Innovation, Science and Economic Development has announced a $16 million investment to help Tenaris upgrade mills in Ontario and Alberta.
The funding is being provided to support the company's $36.3 million project to upgrade its Algoma Tubes seamless mill in Sault Ste. Marie, Ontario, and its Prudential welded mill in Calgary, Alberta, to improve mill performance and product capabilities. The work will create 88 jobs and maintain 516 more at the two facilities.
The Algoma Tubes mill is Canada's only seamless facility and the leading manufacturer of steel pipes used in the energy sector, specifically oil country tubular goods (OCTG) and line pipes.
This investment is being made through the Strategic Innovation Fund, which supports high quality business investments by encouraging firm expansion as well as R&D to accelerate the transfer of technology and the commercialization of innovative products, processes and services.