Grants and funding, Manufacturing News

$200m investment to make Australia a global green steel powerhouse

The Australian Government’s $200m grant to upgrade Australia’s steel industry is a crucial early step to realising Australia’s potential as a global green steel powerhouse, according to the Australian Workers’ Union.

The federal government has announced the first round of the Powering the Regions Fund (PRF) will provide funding to BlueScope Steel Limited and Liberty Steel Australia.

Bluescope will use $136.8m to upgrade of its No. 6 Blast Furnace at the Port Kembla Steelworks. LIBERTY has also been awarded $63.2m towards the purchase and commission of a low carbon electric arc furnace to replace its blast furnace at the Whyalla Steelworks.

AWU national secretary Paul Farrow said, “The AWU has long argued that Australia is ideally placed to become a global green steel powerhouse of the 21st century, but to realise that exciting future we need strategic investment today. Thankfully that’s what we’re finally seeing through the government’s Powering the Regions Fund.”

“The decision to fund projects at BlueScope Steel Limited and Liberty Steel Australia is a testament to our nation’s readiness to embrace a clean steel future.”

“This transition is more than just an environmental imperative; it’s an economic opportunity for Australia to become a leader in clean steel in Asia and globally.”

“The projects at BlueScope and LIBERTY will not only reduce emissions but also create hundreds of jobs, ensuring a vibrant future for the steel industry in our regions,” Farrow continued

“We tend to hear a lot of doom and gloom about manufacturing in Australia, but the fact is the future looks extremely bright if we seize our opportunities.”

“This investment demonstrates the will of the government to help drive Australia’s growth into a clean steel future.”

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