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Subjects: MAV, ECO, CFG

Minister Ng joins workers to celebrate $150M Tenaris investment in Canada


TORONTO, Sept. 27, 2022 /CNW/ - Foreign direct investment plays a critical role in creating jobs, economic growth and innovation in Canadian communities.

Today, the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, took this message to Sault Ste. Marie, where she participated in an event at Tenaris Algoma Tubes celebrating the completion of $150 million in recent upgrades to the facilities. These projects were supported by a Government of Canada investment of more than $21 million through the Strategic Innovation Fund ($16 million) and the Federal Economic Development Agency for Northern Ontario ($5 million). The projects included important modernization to equipment and expansion of the workforce.

The new Tenaris pipe manufacturing centre will continue to be supported by the company's threading facility in Nisku, Alberta; by its service centres in Grande Prairie, Sherwood Park and Red Deer, Alberta, and in Bienfait, Saskatchewan; and by its Canada headquarters, which will remain in Calgary, Alberta.

Over the past 20 years, Tenaris has invested more than $1 billion in growth and improvement projects in Canada, and the company remains committed to Canadian manufacturing and to serving its oil and gas customers.

Quote

"Our government is actively supporting the Canadian steel industry and steel workers, which have long been a cornerstone of our economy. Our investment is helping secure more than 600 local jobs here in northern Ontario and in Alberta, while continuing to drive the production of world-class Canadian steel products."

? The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development

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SOURCE Innovation, Science and Economic Development Canada


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News published on 27 september 2022 at 18:37 and distributed by: