The Ontario government is providing $9 million to help the only steel pipe manufacturer based in Canada, Tenaris Algoma Tubes, upgrade its facility, purchase new equipment and expand operations in Northern Ontario. The investment will lead to the creation of 153 new high paying full-time jobs and enable the company to better support Canada’s energy sector.
“From the moment I was first approached by Tenaris to assist them in these NOHFC applications, I have been filled with so much excitement as to what an investment like this would mean for our community,” said Ross Romano, MPP for Sault Ste. Marie. “Two years later and I’m very happy to announce that the pipe dream is now a reality. Our government’s investment of $9 million has successfully leveraged an investment into Tenaris Algoma Tubes of over $117 million, creating 153 high paying jobs. Thank you Tenaris for investing in Ontario and for investing in Sault Ste. Marie, where we are Open for Business and Open for Jobs.”
Tenaris Algoma Tubes manufactures seamless oil country tubular goods (OCTG) and line pipe products for Canada’s onshore and offshore oil and natural gas sector. Its products help stabilize drilling operations and bring oil and gas to the surface.
“As our economy reopens, manufacturing companies like Tenaris Algoma Tubes are doing their part and working hard to create good-paying jobs in the North,” said Greg Rickford, Minister of Energy, Northern Development and Mines. “Strengthening the local steel industry in Sault Ste. Marie is an important part of our government’s plan to create more jobs and attract new and expanded investment so our northern communities can grow and thrive.”
“Thanks to the strong advocacy of the local Member, Ross Romano and his work with colleagues in the Ontario Government for their overwhelming support. At Tenaris, we are committed to Canadian manufacturing, and thanks to the provincial support announced today, we are able to move forward with our investments during these challenging times,” said Ricardo Prosperi, Tenaris President for Canada. “This investment, along with our Rig Direct business model and service infrastructure, makes us stronger to support Canadian energy development with safe, efficient solutions for years to come.”
Funding for Tenaris Algoma Tubes is being delivered through the Northern Ontario Heritage Fund Corporation (NOHFC). The Corporation promotes economic prosperity across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate recovery, growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $225 million in 1,492 projects in Northern Ontario, leveraging more than $991 million in investment and creating or sustaining 4,298 jobs.