Dofasco to invest $60-million in pulverised coal injection system
25 Aug 2007
Canadian steel maker, Dofasco, acquired in a hostile takeover by Arcelor SA in January 2006, and since 2007 Dofasco a part of ArcelorMittal, the worlds number one steel company, will begin building a $60-million pulverised coal injection (PCI) system at its two blast furnaces in Hamilton to be completed in January 2009.
The project is aimed at significantly reducing fuel costs.
The investment decision was bolstered by an agreement with the Government of Ontario to provide a $6.05 million, 5-year loan under the advanced manufacturing investment atrategy (AMIS) program introduced by the government of Ontario.
AMIS provides loans to encourage technological innovation and the creation or retention of jobs. In a global steel industry Dofasco has to compete with other plants worldwide for capital investment. Programs like AMIS help ensure that Dofasco Hamilton remains competitive into the future.
This announcement is of special importance, as it demonstrates Arcelor Mittal''s commitment to ensuring Dofasco has the necessary resources to compete in an increasingly global market place said Dofasco VP Joan Weppler.
Ontario
Premier Dalton McGuinty announced the AMIS funding at Dofascos Head Office in
Hamilton: "Hamilton steelworkers are among the best in the world and we''re
proud to partner with them by investing in innovative new technologies,"
said the Premier.