Trans Mountain credits increase on several factors including inflation and supply chain issues, unexpected major archaeological discoveries and challenging terrain
The cost of the Canadian government-owned Trans Mountain oil pipeline expansion has jumped 44% from last year’s estimate to $30.9 billion, the federal corporation building the project said on Friday.
Prime Minister Justin Trudeau’s government bought the pipeline from Kinder Morgan Inc in 2018 to ensure the expansion got built, drawing sharp criticism from climate campaigners. “As we committed to Canadians last year, no additional public money will be invested in this project as construction is completed,” Freeland said in a statement.
The corporation also said the current cost estimate does not include reserves for “extraordinary risks” and could change again.
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