Evraz North America will receive approximately $29.7 million from Innovation, Science and Economic Development Canada’s Strategic Innovation Fund (SIF) steel and aluminum program, which was created last year to help bolster the competitiveness of the industry in Canada. The contribution is part of the company’s planned $83 million investment over the next three years into equipment upgrades and expansion at mills in Regina, Saskatchewan, and Red Deer, Alberta. The upgrades include a new heat-treat line in Red Deer that will greatly increase the capability to provide premium-alloy-grade quality in the OCTG product range.
Other upgrades include: replacing electrical transformers and associated power-distribution equipment for Regina's electric-arc furnace (EAF); and upgrading burner equipment that will increase and expand the production capability of Regina’s reheat furnace. These investments will be made between 2019 and 2021.
When completed, the improvements will further boost Evraz North America’s steelmaking capacity, reduce emissions and improve efficiency.