Trans Mountain Pipeline Expansion To Burnaby Approved By Federal Government
Today, Prime Minister Justin Trudeau announced that the federal cabinet had again approved the expansion of the Trans Mountain Pipeline from Strathcona, Alberta to its terminus in Burnaby. The $7.4 billion project is expected to move forward with construction starting in the coming months.
The federal government is proposing investing all revenue the Government of Canada generates from the project in clean energy projects. This may be as much as $500 million per year once the project is fully up and running, plus any profits from the eventual sale of the pipeline which the federal government purchased last year.
In regards to the Trans Mountain pipeline expansion, the Burnaby Board of Trade (BBOT) has taken its role as the representative of the Burnaby business community seriously, and thoroughly reviewed the project via an unprecedented effort of our Board of Directors. With that review of the project in hand, the BBOT participated fully over several years in the pipeline approval process, voicing support for the economic importance of the project but highlighting several concerns with specific aspects of the proposal.
With the granting of the original approval by the necessary federal and provincial bodies in 2016 and 2017, the BBOT recognized the approval process was completed, and the project would move ahead. With the 2019 re-approval process now complete, the BBOT will work to ensure our concerns and all of the regulatory conditions are addressed, and that local Burnaby businesses benefit from this significant project.