BlueScope Steel’s manufacturing precinct in Port Kembla will receive a $55.4 million government investment for a new facility capable of producing plate steel.
A major funding announcement signalling the tone of the federal budget later this month has highlighted a government investment under the collaboration stream of the Modern Manufacturing Initiative (MMI).
Minister for industry, energy and emissions reduction Angus Taylor issued a statement announcing $55.4 million from the government’s $1.3 billion (MMI) for BlueScope to build a new facility.
The project will foster deeper collaboration with steel manufacturers by building on the existing relationship with the University of Wollongong’s Steel Research Hub.
— Patricia Davidson (@UOW_VC) March 15, 2022
“This precinct represents an incredible win-win – not only increasing the local production of Aussie-made steel, but also helping build up our renewable energy and defence sectors,” Taylor said on Tuesday.
“The government is determined to back our steel industry, the manufacturing sectors it helps drive and the local communities they represent.”
The government’s focus on making Australia’s manufacturing industry more ‘competitive, resilient and able to scale’ will feature in a series of its budget announcements.
The minister said he expected over 200 new jobs to come from the new facility – which will make steel for Defence infrastructure, wind turbines and large-scale solar installations – and another 1,000 jobs in adjacent industries.
“The Port Kembla steelworks has a proud history. This precinct will help BlueScope thrive into the future and create more jobs in the region,” Taylor said.
Stronger domestic steel manufacturing capabilities will also bolster local supply chains, he added, with the effect of reducing reliance on steel imports.
Keeping Australians safe is one of the Morrison Govt’s highest priorities. Strong national security and economic security go hand-in-hand, that’s why the Morrison Govt is investing over $22m to help build defence manufacturing and education hub in SA, creating more than 950 jobs. pic.twitter.com/PY0FRrjFQa
— Angus Taylor MP (@AngusTaylorMP) March 9, 2022