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Trans Mountain pipeline expansion approved for more loan guarantees as project costs soar

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The Trans Mountain pipeline expansion project in Western Canada is already massively overbudget. Purchased by the federal Liberals in 2018 for $4.7 billion, the project is now going to cost at least $35 billion to complete.

Global News has learned that — on the Friday before Christmas – Trans Mountain secured yet another government-backed commercial loan guarantee, worth $2 billion.

Global News has also learned that Trans Mountain quietly wrote off $1 billion off its balance sheet as interest, project costs soar.

Global's Kamyar Razavi reports.

For more info, please go to https://globalnews.ca/news/10215455/trans-mountain-cost-federal-government-loan-guarantees/

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Category
U.S. & Canada
Tags
global news, Trans Mountain, transmountain
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