ANNOUNCEMENT 26 Jul 2019
This investment was made through Canada’s Strategic Innovation Fund, which aims to accelerate economic growth, strengthen and expand the role of Canadian firms in regional and global supply chains, support economic strategies, and attract investment.
NUMBER OF INTERVENTIONS
On July 26, 2019 the Government of Canada announced a Can.$16 million (U.S.$12.1 million) subsidy to help manufacturer of steel pipes Tenaris to upgrade its Algoma Tubes seamless mill in Sault Ste. Marie, Ontario, and its Prudential welded mill in Calgary, Alberta, to improve mill performance and product capabilities.
This investment is being made through the Strategic Innovation Fund, a program that is “designed to attract and support high-quality business investments across all sectors of the economy by encouraging R&D that will accelerate the transfer of technology and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.”