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The Australian Government has announced $500 million investment to support the domestic production of steel under the Future Made in Australia Innovation Fund.
The plan is designed to ensure Australian manufacturers have the backing they need to scale up and seize the opportunities.
Through ARENA, the $500 million allocation from the Innovation Fund will provide merit-based grants for manufacturing opportunities, including projects which build new capability in wind tower steel fabrication and related sectors.
“Our Labor Government has made it clear – we will always stand up for Australian steel and Australian aluminium,” according to Prime Minister Anthony Albanese.
“We will always stand up for Australian jobs and Australian industries.
“And we will back Australian industry to compete and succeed, so we can create the next generation of good local jobs.”
Along with wind industry manufacturing, funds could be directed to clean energy technology manufacturing, including battery and storage technologies, hydrogen electrolysers, energy efficiency and electrification technologies and other components critical to the clean energy transition, like cables.
This is the first allocation from the broader $1.75 billion Future Made in Australia Innovation Fund.
“We want a new generation of good, blue collar and engineering jobs to add value to the resources under our soil, on our shores,” according to Minister for Industry and Science, Ed Husic.
“To build our economic resilience, our self-reliance and our sovereignty, and to make sure that in an age of global uncertainty, we can stand on our own two feet.”
