November 20, 2009
U.S. federal regulator approves $161-million loan for Montana-Canada transmission line
Federal regulators have signed off on a US$161 million loan to a Canadian company that’s building a 350 kilometre power transmission line between Alberta and Montana.
Construction began earlier this month on the 230-kilovolt Montana-Alberta Tie Line, which will run between Great Falls and Lethbridge, Alberta.
On Thursday, the Federal Energy Regulatory Commission approved the loan from the Western Area Power Administration to Calgary-based Montana Alberta Tie Ltd., a subsidiary of Tonbridge Power Inc., the line’s Toronto-based developer.
The public financing, provided through federal stimulus money, will cover most of the project's estimated US$215 million price tag. WAPA will get a one-twelfth ownership as part of the loan agreement.
A dedication ceremony for the transmission line is planned for Nov. 30 in Great Falls. The line is expected to be operational by 2010.
| MOST POPULAR STORIES |
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Prime site moves from contamination to condo in Cambridge, Ontario
- Mine tower largest steel project ever undertaken by Gorf Contracting
- Concrete from Giants Stadium demolition to be buried on site
- McGuinty: We can’t take our foot off ‘public dollar gas pedal’ too quickly
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 350 projects with a total value of $6,260,468,758 that Reed Construction Data Building Reports reported on yesterday.
$98,000,000 Toronto ON Negotiated
CONDOMINIUM APARTMENT BUILDING
$89,000,000 Toronto ON Negotiated
$50,000,000 Toronto ON Negotiated
| CURRENT STORIES |
- Work continues on Pearl Condos in Toronto
- ‘A good first step forward,’ Canadian construction industry says of U.S. stimulus agreement
- What the latest U.S., Canada GDP numbers mean for the recovery
- Steel provides structure for historic hotel revival in Port Hope, Ontario
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Ontario businesses scramble to ready for arrival of HST
- Construction continues on Atira Women’s Resource Society housing project in Vancouver
- Five still unaccounted for after Connecticut power plant explosion
- U.S. manufacturing employment up, but construction losses continue
- Peterborough Utilities unveils plan for 10-megawatt wind farm
- China orders local governments to pay workers on private sites
- New deal allows Canadian construction firms to bid on U.S. stimulus projects
- Construction continues on Canadian Natural Resource office in St. Albert, Alberta
- Canadian Construction Association summit zeroes in on industry concerns
- Art Gallery of Alberta addition showcases steel
- 5,000-room modular lodging project taking shape near Fort McMurray, Alberta
- Five-year forecast looking up for British Columbia construction industry
- Saskatchewan gets new natural gas trades training centre
- B.C. permit numbers rise while Alberta’s fall
- Trades lack LEED understanding
- Nexen, OPTI Canada get approval for cogeneration power plant near Fort McMurray
- Aecon wins $22 million in contracts for steam generators
- SNC-Lavalin partners with Russian bank to form engineering company
| ALEX’S ECONOMICS BLOG |
Reed Construction Data Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- A review of some global economic and policy expectations for 2010 (February 3, 2010)
- Synopsis of RCD’s webinar on the economic and construction outlooks (January 28, 2010)
- Increasing signs of world and U.S. economies getting back on track (January 28, 2010)
- More
