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Canada increases loan guarantees for Trans Mountain to C$19 billion
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Canada increases loan guarantees for Trans Mountain to C$19 billion
May 30, 2024 3:33 PM

May 30 (Reuters) - The Canadian government has

guaranteed another C$1 billion ($731.05 million) in commercial

loans for the Trans Mountain pipeline expansion, taking the

total government-backed loan facility to C$19 billion, Trans

Mountain's quarterly earnings statement showed on Thursday.

The expansion project, which has so far cost C$34 billion,

nearly triples capacity to ship oil from Alberta to Canada's

Pacific coast to 890,000 barrels per day. It started commercial

operations on May 1 after years of delay.

($1 = 1.3679 Canadian dollars)

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