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Kinder Morgan Canada names contractors for Trans Mountain project

Published 09/07/2017, 02:59 PM
© Reuters.  Kinder Morgan Canada names contractors for Trans Mountain project
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  • Kinder Morgan (KMI -0.9%) reiterates that its Trans Mountain pipeline expansion is on schedule and signs MoUs with six major contractors covering seven segments of the C$7.4B (US$5.9B) project.
  • Construction on the project begins this month, but will begin largely with the expansion of a marine terminal rather than actual pipeline work.
  • KMI says a majority of pipeline construction is scheduled for 2018-19, and that the expansion will be online at the end of the 2019.
  • But the project faces many obstacles, including a legal challenge to be heard in October, British Columbia's ban on any Trans Mountain work on public land until KMI further consults affected aboriginal groups, and the precise route for the expansion’s new pipeline, which is subject to lengthy hearings that could force changes.
  • Now read: Kinder Morgan's Operating Earnings Yield At 8.74% Crushes The S&P 500


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