Thursday, 28 March 2019 16:50

Project Reconciliation planning bid to buy 51% of Trans Mountain pipeline

554 First Nations Trans Mountain

 

First Nations across Saskatchewan, Alberta and British Columbia are being invited to participate in a $6.8-billion plan to purchase 51 percent of the Trans Mountain Pipeline. This values the project at more than $13-billion. The group, known as Project Reconciliation, is led by Delbert Wapass, former chief of the Thunderchild First Nation in Saskatchewan and current vice-chairman of the Indian Resource Council. The group is in talks with major Canadian banks to lead a syndicated debt issue to finance the acquisition and its share of the expansion costs. The structure will be that each participating First Nation would own shares, with those along the pipeline right-of-way owning a more senior class of share.

 

 

Read 659 times Last modified on Thursday, 28 March 2019 16:52
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