Workers lay pipe during construction of the Trans Mountain pipeline expansion on farmland, in Abbotsford, B.C., on Wednesday, May 3, 2023. THE CANADIAN PRESS/Darryl Dyck
"It's got to be a minimum of 30 per cent in my view, period," said Stephen Mason, managing director of Project Reconciliation.Workers lay pipe during construction of the Trans Mountain pipeline expansion on farmland in Abbotsford, B.C., in May 2023.
However, Ottawa has been clear from the start that it does not wish to be the long-term owner of the pipeline. With the expansion project now nearing completion, the federal government has launched the first phase of what is expected to be a two-part divestment process. Mason's Project Reconciliation, an initiative that has lined up its own financing for a Trans Mountain bid in an effort to secure Indigenous economic participation in the pipeline, intends to participate at that stage.
The expansion project will twin the 1,150-kilometre-long Trans Mountain pipeline from Edmonton to Burnaby, B.C. Once the transaction is completed, Project Reconciliation will operate essentially like a portfolio manager, charging annual management and administrative fees based on the pipeline's projected earnings.
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