اخبارالعرب 24-كندا:الجمعة 30 يوليو 2021 11:39 صباحاً The federal government is investing $400 million in a project aimed at cutting emissions at ArcelorMittal Dofasco.
Deputy Prime Minister Chrystia Freeland, along with Innovation Minister François-Philippe Champagne and Minister of Labour, Filomena Tassi, made the announcement at the Hamilton steelmaker on Friday.
The government said its investment is part of a $1.765-billion project to phase out coal-fired steelmaking and is expected to cut greenhouse gas emissions by up to three million tonnes per year by 2030.
"This investment will ensure that Canada's largest producer of flat-rolled steel adopts innovative technologies, continues to provide economic opportunities for Canadian workers and contributes meaningfully toward our climate targets," Champagne stated in a media release.
"This investment will create good jobs in communities like Hamilton and lead to clean Canadian-made products for the world for decades to come."
It comes after Prime Minister Justin Trudeau announced $420 million for a similar project at Algoma Steel in Sault Ste. Marie earlier this month.
At the time, Trudeau teased a similar announcement would soon be made in Hamilton.
The funding for Dofasco comes from the Strategic Innovation Fund and its Net Zero Accelerator.
The government said the combined reductions in greenhouse gases from both projects will lower emissions by up to six million tonnes a year.
That's the equivalent of taking 1.8 million vehicles off the road, "almost the number of passenger vehicles in Toronto, Montréal and Vancouver combined," according to the release.
Aditya Mittal, CEO of ArcelorMittal, described said the announcement marks the "beginning of a new era of steelmaking in Hamilton that will result in a 60% drop in CO2 emissions within the next seven years."
Dofasco will use the funds to transition to a electric arc furnaces, which use scrap metal to make steel, as opposed to iron ore, and use electricity for energy instead of coal.
In advance of the announcement, company spokesperson Marie Verdun called decarbonized steelmaking "central to ArcelorMittal's long-term strategy." She pointed out the company has already started efforts on this front in its European operations.
"We're making a difference today," said Champagne, adding the investment secures the steel industry and Dofasco's presence in Hamilton for generations to come.
More to come.
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