September 10, 2012
Enbridge commits up to $600 million for Toronto area natural gas pipeline construction
Enbridge Inc. (TSX:ENB) recently announced it is committing up to $600 million to build natural gas pipelines and facilities in and near Toronto.
“The estimated capital cost is contingent on finalization of the scope of the project,” Calgary-based Enbridge stated in a press release. “The target for construction of the upgrade project is in 2014 and 2015. The project is subject to approval by the Ontario Energy Board (OEB).”
The project would include “two segments of pipeline and related facilities to upgrade the existing distribution system,” the firm stated. The system delivers natural gas in the city of Toronto, west of Toronto in Brampton and Mississauga, and north of the city in Vaughan, Richmond Hill and Markham.
“Enbridge expects to file an application with the OEB in the coming months.”
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