The latest estimate of $30.9-billion is an increase of more than 300 per cent from the initial $7.4-billion that former owner Kinder Morgan Canada Inc. laid out in 2017
The expected price tag of the Trans Mountain pipeline expansion has increased once again, now projected to hit almost $31-billion.
Earthquake standards in the Burnaby Mountain tunnel and “significant cost increases associated with building major infrastructure in densely populated areas from Sumas to Burnaby” also played a role, it said.So, too, did unexpected and significant archeological discoveries throughout sacred spaces in the Lower Mainland, which resulted in more than 83,000 artifacts being returned to Indigenous communities for cultural protection.
The Crown corporation took over the pipeline when Ottawa bought it from Kinder Morgan in 2018, after the company threatened to scrap the expansion project in the face of environmentalist opposition.Last year, the federal governmentwould be spent on the project after the cost ballooned once again, to $21.4-billion, and completion was delayed until late 2023.
Trans Mountain said Friday it is in the process of securing external financing to fund the remaining cost of the project.
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