Finance Minister Bill Morneau comments on new TMX expansion cost
Finance Minister Bill Morneau holds a news conference in Ottawa, where he is expected to comment on the revised projected cost of completing the Trans Mountain pipeline expansion. Trans Mountain CEO Ian Anderson announced earlier that the cost will increase from an initial estimate of $7.4 billion to $12.6 billion, with a completion date of 2022. The federal government bought the controversial project from Kinder Morgan for $4.5 billion in May 2018. Cabinet re-approved the expansion in June 2019, after the Federal Court of Appeal quashed the initial approval over inadequate environmental reviews and the need for further consultation with Indigenous communities.