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Canadian government provides funds for Stelco's upgrade plan

16 Aug 2019 14:58 reported by Felix

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According to reports, the Canadian federal government planned to award steel manufacturer Stelco CAD 49.9 million, and the grant will be used for the upgrading of factory equipment.

It was reported that the ultimate goal was a new recycling facility and investments geared for the production of special sheets, especially for the car industry.

The action was targeted to upgrade and modernize the factory's steelmaking operation, and the purpose of this approach was to make some next-generation steels.

In addition, this funding will be used to cover current-processing project costs, and it was estimated that the project will eventually create 75 jobs.

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