Indigenous group wants to buy Trans Mountain pipeline expansion
Mar 18, 2023 | 3:10 PM
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An Indigenous-led initiative says it’s entering into the early stages of negotiations for ownership of the Trans Mountain pipeline expansion despite the price tag ballooning to $30.9 billion.
Calgary-based Project Reconciliation is working to facilitate the purchase of a major equity stake in the pipeline for the 129 First Nations along the route.
Managing director Stephen Mason says there are a couple of other proponents but he thinks the federal government has recognized the readiness of the Indigenous group.
Capital costs have been spiralling higher since the federal government bought the pipeline for $4.5-billion in 2018 after previous owner Kinder Morgan Canada threatened to scrap the project.
