Trudeau’s Trans Mountain Pipeline Project Boosts Cost Estimate by $2.3 Billion - Bloomberg
Trudeau’s Trans Mountain Pipeline Project Boosts Cost Estimate by $2.3 Billion - Bloomberg
Trudeau’s Pipeline Project Increases Cost Estimate by $2.3 Billion
Pieces of the Trans Mountain Pipeline project in a storage lot outside Abbotsford, British Columbia. Photographer: Cole Burston/AFP/Getty Images
The expansion of the Trans Mountain oil pipeline will cost about C$3.1 billion ($2.3 billion) more than the Canadian government-owned company running the project projected in May, another financial setback for a project beset by spiraling expenses and years of delays.
Costs for the expansion — which involves twinning a pipeline stretching from Edmonton to Vancouver — will be 10% more than the most recent estimate of C$30.9 billion, the company said in a filing with the Canada Energy Regulator on Monday. That brings the total cost to about C$34 billion, more than six times the original estimate of C$5.4 billion in 2013.
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