Liberals face heat as cost of Trans Mountain expansion hits $12.6 billion

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OTTAWA — Expanding the Trans Mountain pipeline will now cost at least $12.6 billion — a major increase from a three-year-old estimate of $7.4 billion on a project that Finance Minister Bill Morneau insists the Liberal government still plans to sell back to the private sector. “This was in the range of the considerations we looked at,” Morneau said Friday in Ottawa. “The project will deliver $1.5 billion of available cash flow once it’s finished, which means it remains commercially viable and, I think, very interesting for the eventual commercial buyers that we’re going to be seeking, because we don’t intend on keeping this in government hands,” he said.