Trudeau visits Hamilton to announce $400M investment in ArcelorMittal Dofasco ‘clean technology’
Published October 14, 2022 at 10:53 am
Prime Minister Justin Trudeau participated in a ceremony in Hamilton on Thursday to announce a $400 million investment in ArcelorMittal Dofasco and its transition to lower-emission clean technology for its steel production.
The federal government says the transition will bring “a more prosperous economy, ensuring more jobs for Canadians now and decades.”
“For generations, Dofasco has been an engine of the Canadian economy and created good middle-class jobs for workers,” said Trudeau. “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 feds called the announcement an important milestone that will significantly contribute toward Canada achieving its climate goals, reducing greenhouse gas emissions by up to 3 million tonnes per year by 2030.
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Trudeau was joined for the announcement by his innovation, science, and industry minister, François-Philippe Champagne.
“Today represents a major step on our way to a net-zero future,” said Champagne. “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,” he added.
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 to develop 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.
The project could also result in higher productivity, product quality, and energy efficiency at ArcelorMittal Dofasco — Canada’s largest flat-rolled steel producer 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 greenhouse gas emissions from the energy industries — equal to global aviation, shipping, and chemicals emissions combined.
ArcelorMittal Dofasco has committed to investing an average of $15 million annually in research and development in Canada and to help develop the workforce through approximately 150 co-op student positions annually.
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