Alberta Premier Jason Kenney announcing the investment (Screenshot from YourAlberta video on YouTube)

By Justin Goulet

Investment from Alberta government kick-starts KXL Pipeline construction

Mar 31, 2020 | 7:52 AM

CALGARY, AB – Construction is moving ahead on the Keystone XL Pipeline project.

The US $8 billion 1,947-kilometre line from TC Energy Corp., based in Calgary, will be able to carry 830,000 barrels of crude oil per day from Hardisty, Alberta to Steele City, Nebraska – where it will then connect with TC Energy’s existing facilities.

The company is formerly known as TransCanada and stated pre-construction is underway. The pipeline is anticipated to enter service in 2023.

The Government of Alberta has finalized an agreement with TC Energy to offer financial assistance to accelerate construction, starting April 1. The investment will include $1.5 billion in equity investment in 2020, followed by a $6 billion loan guarantee in 2021.

The province said that the project will help create over 1,400 direct and 5,400 indirect jobs in Alberta during the construction process and will generate an estimated $30 billion in tax and royalty revenues.

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Construction will begin in Alberta at the Canada-US border, in Montana, South Dakota and Nebraska. 259 kilometres of pipelines will be built in Alberta.

A video of the announcement from Alberta Premier Jason Kenney can be viewed here.

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