BlueScope Steel Limited (ASX:BSL) is planning to take advantage of the federal government’s Steel Transformation Plan, which became available on Friday.
It’s already applied for $100 million of industry assistance from the Plan, which is designed to assist the steel industry as the carbon pricing scheme was introduced.
BlueScope chief executive Paul O'Malley says the assistance is evidence the government wants a viable, competitive and innovative steel industry.
Bluescope hopes the assistance will help return the company to profitability.
BlueScope Steel Limited reported a loss of $1 billion for the 2011 financial year.
