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Trans Mountain costs estimate reach $12.6 billion
BY , Feb 7, 2020 8:23 PM - REPORT AN ERRORLAST UPDATED ON Apr 24, 2020 3:31 PM
Pipe for the Trans Mountain pipeline is unloaded in Edson, Alta. on Tuesday June 18, 2019. THE CANADIAN PRESS/Jason Franson
Pipe for the Trans Mountain pipeline is unloaded in Edson, Alta. on Tuesday June 18, 2019. THE CANADIAN PRESS/Jason Franson
The cost to Canadian taxpayers to build the Trans Mountain pipeline has ballooned to 12.6-billion dollars from its initial estimate of 7.4-billion dollars.
The president and C-E-O of the federally owned company provided an update on the pipeline upgrade which will triple the amount of Alberta bitumen moving from the Edmonton-area to port in Burnaby and on to overseas markets by freighter.
Ian Anderson says when spending committed so far is subtracted from the total budget, just over eight-billion dollars will be needed to complete the project plus nearly two-billion dollars in financial carrying costs.
But he says the expansion is now expected to be finished and operating by the end of 2022.
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