The $30.9 billion project to expand the capacity of the Trans Mountain Pipeline is close to 80 per cent complete, and on track to be done by the end of the year.
The expanded oil pipeline is expected to be mechanically complete this year and in operation in the first quarter of 2024, according to information released by the company. The project employed an average of 2,409 people in the Valemount/North Thompson section of the project between October and December last year.
“Canada has among the world’s highest standards for the protection of people, the environment, and Indigenous participation when building major infrastructure projects. By including these commitments into the project design and development from the beginning, we have ensured the project will provide economic benefits to Canadians well into the future,” Trans Mountain Corp. president and CEO Dawn Farrell said.
Once the expansion project is completed, the pipeline’s capacity will nearly triple from 300,000 barrels per day to 890,000 barrels per day. The 1,150-kilometre pipeline between Strathcona County, Alta. and Burnaby was first built in 1953.
An independent economic impact assessment on the project conducted by Ernst & Young LLP (EY) in March estimated that during construction the project will contribute a total of $52.8 billion in gross output, including $11 billion in wages. Once complete, the project is expected to contribute to $17.3 billion to the economy, including $2.8 billion in wages, over the next 20 years.