Trudeau’s pipeline project increases cost estimate

Costs for the expansion will be 10% more than the most recent estimate of C$30.9bil. — Bloomberg

TORONTO: The expansion of the Trans Mountain oil pipeline will cost about C$3.1bil (US$2.3bil) more than the Canadian government-owned company running the project projected in May, in another financial setback for a project beset by spiralling expenses and years of delays.

Costs for the expansion, which involves twinning a pipeline stretching from Edmonton to Vancouver, will be 10% more than the most recent estimate of C$30.9bil, the company said in a filing with the Canada Energy Regulator on Monday.