OTTAWA, Sept 26 (Reuters) – Canada’s government announced a C$400 million ($287.13 million) financial support for Algoma Steel under its large enterprise tariff relief scheme, Jobs Minister Patty Hajdu said on Monday.
The loan will “help Algoma Steel Inc. continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce,” the government said in a statement.
The government of the province of Ontario will also provide a support of C$100 million, it said.
($1 = 1.3931 Canadian dollars)
Comments