Title:
Adoption of New Innovative Equipment to Streamline Operations and Improve Plate Production and Enhance Grade Capability
Agreement Value:
$30,000,000.00
Agreement Date:
Dec 1, 2018 - Apr 30, 2034
Description:
This project will modernize its plate mill to increase productivity and product capabilities through hot mill reliability improvements, an accelerated cooling project, plate finishing initiatives, plate leveller and reheat infrastructure upgrades, steelmaking vessel upgrades, a roll efficiency program, and a revitalization initiative.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
The project will adopt new innovative equipment in Sault Ste. Marie, Ontario, to streamline production, improve overall productivity, and enhance product capacity while ensuring the sustainability of the company's business operations in an increasingly demanding and challenging steel plate market.
Location:
Sault Ste. Marie, Ontario, CA P6A7B4
Reference Number:
033-2018-2019-Q4-812918
Agreement Type:
Other transfer payment
Report Type:
Grants and Contributions
Recipient Business Number:
768412926
Recipient Type:
For-profit organization
Additional Information:
The amendment has been completed to extend the agreement end date from April 30, 2032 to April 30, 2034.
Amendment Date
Mar 25, 2024
Recipient's Operating Name:
Algoma Steel Inc.
Recipient's Legal Name:
Algoma Steel Inc.
Federal Riding Name:
Sault Ste. Marie
Federal Riding Number:
35092
Program:
SIF - Steel and Aluminum Program
Program Purpose:
-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.