Canada’s budget watchdog says building the federally owned Trans Mountain pipeline expansion is no longer a profitable investment after costs ballooned to more than $21 billion.
“Trans Mountain no longer continues to be a profitable undertaking,” the Parliamentary Budget Officer wrote in a report released Wednesday.
According to the government-owned pipeline corporation, the projected cost of twinning the Trans Mountain pipeline has nearly tripled because of natural disasters, environmental protection measures and rising debt payments.
The latest figures show TMX’s initial $7.4-billion price tag — projected when the federal government purchased the project in 2018 — has since ballooned to $21.4 billion.
To arrive at its
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