The financial centre of Canada’s oilpatch is hailing the federal government’s approval of two massive pipeline projects.
Adam Legge, CEO of the Calgary Chamber, says federal sanctioning of the Trans Mountain expansion and the Line 3 replacement sends a signal Canada is open for investment.
Legge says the announcement Wednesday is precisely the news the Canadian economy needs.
Enbridge, the proponent behind the Line 3 project, says it was pleased to hear the $7.5 billion development was approved.
This announcement is being met with approval by Evraz in Regina, Sask.
Evraz is a leading producer of engineered steel products for rail, energy and industrial-end markets. Evraz Regina is the largest steel company in western Canada.
Evraz, who is a partner with Enbridge, says the vast majority of the pipe for the Enbridge Line 3 replacement project will be made in Canada by members of the United Steelworkers union at its Regina facility.
In a release, Evraz North America president and CEO Conrad Winkler says “Our Regina facility not only makes steel at a fraction of the CO2 emissions of Asian steel producers, it is also the largest recycler of steel scrap in Western Canada and given its proximity to the project also minimizes emissions due to transportation.
Evraz is the largest producer of large-diameter pipe in North America.
In the meantime, the Trudeau cabinet’s approval of Kinder Morgan’s 6.8-billion-dollar Trans Mountain pipeline expansion has set off anger in B-C and threats of many protests to come.
The expansion will triple the capacity of the existing Alberta-to-Burnaby, B-C line, increasing the number of tankers leaving Vancouver-area waters seven-fold to 34 per month.
This announcement comes ahead of a December 9 meeting between Trudeau and the provincial and territorial premiers.