Altair
Army.ca Veteran
- Reaction score
- 715
- Points
- 1,110
http://www.cbc.ca/news/politics/liberals-trans-mountain-pipeline-kinder-morgan-1.4681911
I would imagine that they don't want this to fail if they are the owners of the project.
That said, this isn't the ideal way to get infrastructure projects built in Canada, but still better than letting it fail
The Liberal government will buy the Trans Mountain pipeline and infrastructure related to the expansion project for $4.5 billion.
Finance Minister Bill Morneau is announcing details of the agreement reached with Kinder Morgan at a news conference with Natural Resources Minister Jim Carr at the National Press Theatre in Ottawa
"Make no mistake, this is an investment in Canada's future," Morneau said.
He said the government does not intend to be a long-term owner, and at the appropriate time, the government will work with investors to transfer the project and related assets to a new owner or owners. Investors such as Indigenous groups and pension funds have already expressed interest, he said.
Until then, it will proceed under the ownership of a Crown corporation. The agreement is expected to close in August.
Morneau said the project is in the national interest, and proceeding will preserve jobs, reassure investors and get resources to world markets.
I would imagine that they don't want this to fail if they are the owners of the project.
That said, this isn't the ideal way to get infrastructure projects built in Canada, but still better than letting it fail