Canadian Government Announces Additional Support For Aluminum Industry
Last Wednesday, the Canadian government announced new support for the aluminum sector in the country. Specifically, Jean-Yves Duclos, Minister of Families, Children and Social Development, and Navdeep Bains, Minister of Innovation, Science and Economic Development, said the government will provide a $10 million investment for an $85 million project that will support more than 520 jobs at Alcoa’s aluminum plant in Deschambault-Grondines, Quebec that should be finished by the end of 2021.
The government said the investment will help the facility acquire cutting-edge technological equipment that will enable it to increase aluminum production at a lower cost.
The government also has made investments in other companies, including EVRAZ North America, Algoma Steel Inc., ArcelorMittal and Elysis that is says “will ensure that these companies continue to provide thousands of middle-class Canadians with good jobs and to contribute significantly to our economy and manufacturing supply chains.”
The funding will come from Canada’s Strategic Innovation Fund, which is designed to attract and support high-quality business investments across all sectors of the economy by encouraging research and development that will accelerate the transfer of technology and the commercialization of innovative products, processes, and services and will facilitate the growth of innovative firms.