Federal Government invests $55.4 million to bolster supply of Australian steel
The investment will support renewable energy projects and local Defence sector
The Government has today announced funding for BlueScope Steel’s $217 million Advanced Steel Manufacturing Precinct around the Port Kembla steelworks, under the Collaboration Stream of the $1.3 billion Modern Manufacturing Initiative.
The precinct includes a new facility that will be able to produce plate steel for Defence armoured vehicles and patrol boats, as well as the type of steel used to create wind turbine towers and large-scale solar installations.
This will reduce the need for overseas imports and secure our sovereign capability in steel fabrication.
The project will foster deeper collaboration with steel manufacturers by building on the existing relationship with the Steel Research Hub at the University of Wollongong.
More than 200 people will be employed directly in steel manufacturing once the precinct is up and running, with about 1000 more workers in adjacent industries.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the enhanced capability at Port Kembla will bolster domestic supply chains, as well as increasing the downstream local manufacture of steel goods right here at home.
Manufacturing will be a focus of the Morrison Government’s 22-23 Budget. The Morrison Government will continue its investments under the Modern Manufacturing Initiative to back Australian manufacturers to become more competitive, resilient and able to scale.