By Holly McGuinness
A Somerton company will receive funding from the state government’s $250 million Victorian Business Growth fund to help it undertake new projects to strengthen Australia’s water infrastructure security.
Steel Mains manufactures steel pressure pipeline and fittings and develops water infrastructure across the country.
The company employs 200 people.
Chief executive Dean Connell said funding would support jobs in design and engineering, manufacturing, contracts management, sales and head office support.
“The outlook for the Australian water infrastructure industry is strong for both new and replacement infrastructure due to predicted high urbanisation, population growth, aging existing infrastructure and demand for increased water security in many regions of Australia,” Mr Connell said.
State Treasurer Tim Pallas said water infrastructure in Australia is aging and falling behind the needs of a growing population.
The business growth fund is supported by Australian superannuation funds Aware Super and Spirit Super. Mr Pallas said it’s a great partnership that supports “dynamic companies” and “important jobs.”
“Our economic recovery continues apace and we’re backing Victorian businesses that are ready to take the next step in their journey,” he said.
