Trans Mountain Price Tag Rising to $12.6B

The price tag for the Trans Mountain pipeline expansion project is rising.

The company announced on Friday the project is now expected to cost around $12.6 billion.

Trans Mountain says the increase is due to enhanced environmental protections, security, quality assurance, and Indigenous inclusion.

“With 65 per cent of the detailed route approved, and a process established by the Canada Energy Regulator for the remainder in progress, the path forward is clear,” said Ian Anderson, President and CEO of Trans Mountain Corporation.

“Construction is accelerating and we’re very excited to be delivering this important Project and on our commitments to Canadians, our customers and communities.”

The federal government bought the pipeline for $4.4 billion back in 2018.

Trans Mountain says the government of Canada should look at allocating another $600 million for any future costs.

Around $2.5 billion has been spent on the project so far with construction expected to end in late 2022.

Meanwhile, the project has led to around 2,900 jobs.