SAULT STE. MARIE, ON – Today, Ross Romano, MPP for Sault Ste. Marie announced that the Ontario government is providing $9 million to assist Tenaris Algoma Tubes, the only steel pipe manufacturer based in Canada to 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.
Romano spoke from the heart as he said “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.”
Through the Northern Ontario Recovery Program (NORP), Ontario is helping businesses in the north get back on their feet by helping them adjust operations to meet new public health guidelines, protect employees and customers, and build consumer confidence.
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.
Ricardo Prosperi, Tenaris President for Canada, recognized Minister Romano and the commitment from the Ontario Government. “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. 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.