RE: Trans Mountain expansion running over budget by billions of It's only a matter of time before the revised amount comes to light. Costs have gone up substantially for projects generally. Delays, weather events, inflation, and Covid... the perfect storm (no pun intended) really.
Macro will make more money from the TMX project then was ever contemplated, even more than what was expected when MSJV was the prime contractor on 5b. It is also possible that this contract arrangement with Kiewit is actually lower risk than if Macro were to be the prime contractor. Perhaps those in the industry would have a different view on the risk profile. I am hopeful that the issues related to the outstanding letter of credit from MSJV are a thing of the past.
I am very much looking forward to the Q4 results and some updated guidance on FY 2022.
Best of luck!
LR