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SA government grants $11.7m to drill rig R&D

The Federal and South Australian Governments have donated $11.7 million of assistance to the State’s manufacturing industry to fund a number of programs including research and development of drill rigs.

The grant represents the second round of the South Australia Innovation and Investment Fund (SAIIF).

Federal Innovation Minister Senator Kim Carr and South Australia’s Minister for Industry and Trade Kevin Foley say the funds will generate $78.3 million in private manufacturing investment and create up to 476 new jobs.

Grants range from $250,000 to $2.5 million and are made to assist the establishment and expansion of manufacturing capabilities. Funding will be provided to eleven SA manufacturers.

Projects include developing an integrated research and development, test and manufacturing facility for a new range of drill rigs.

The grant will also help-out development of a new building facility to manufacture environmentally-friendly building blocks.

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