Finance Minister Bill Morneau Expected to Comment on New TMX Expansion Cost

Finance Minister Bill Morneau Expected to Comment 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 building the Trans Mountain pipeline expansion. Trans Mountain CEO Ian Anderson announced earlier that the construction cost will increase from an initial estimate of $7.4 billion to $12.6 billion, with a complete 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.