In a bold initiative to bolster local industry and support the transition to renewable energy, the federal government is set to establish ambitious targets for using locally-made steel and aluminum in renewable projects, including offshore wind developments. This commitment comes alongside a new $500 million funding allocation from the $1.7 billion Future Made in Australia Innovation Fund.
Prime Minister Anthony Albanese, fresh from announcing a $2.4 billion rescue package for the struggling Whyalla steelworks, traveled to Wollongong, another steel-producing hub, to share his vision. Speaking at the Whitlam Dinner in Dapto, he emphasized the importance of utilizing Australian metals, particularly in wind tower fabrication. “Every new wind tower needs hundreds of tonnes of steel,” Albanese remarked. “Why should that steel come from anywhere but here?”
Highlighting the historical significance of steelmaking in the Illawarra region, he noted, “This is a steel city; steelmaking in the Illawarra has delivered generations of good blue-collar jobs.” The funding will also extend support to aluminum industries in Gladstone, the Hunter Valley, Bell Bay, and Portland, showcasing a comprehensive approach to revitalizing local manufacturing.
The plan involves collaboration between the federal government, unions, and state authorities to set new local content targets, reaffirming the government’s commitment to its offshore wind ambitions and the job opportunities the sector promises.
Steelmaking remains a vital industry for the Illawarra, directly employing 3,000 individuals and supporting numerous indirect jobs. However, the region faces economic challenges as it transitions away from coal, with two major coal mines closing last year and the future of local coal mining uncertain. This new strategy aims to not only sustain but also invigorate the local economy as Australia moves towards a greener future.
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