Prime Minister, Justin Trudeau, has announced that Algoma Steel will receive up to $420 million to retrofit their operations and phase out coal-fired steelmaking processes at their facility in Sault Ste. Marie, Ontario.

The money will enable the company to purchase state-of-the-art equipment to support its transition to Electric-Arc Furnace production. This electricity-based process is expected to cut greenhouse gas emissions by the equivalent of taking more than 900,000 passenger vehicles off the road–

The money will create 500 jobs, through the project’s construction phase and subcontracting, and will over 600 co-op placements for students. Additionally, 75 employees at Algoma will be retrained. The total cost of Algoma’s project is $703 million.

Algoma employs about 2,600 people.