Fort St. John-based Macro Enterprises and its joint venture with Speicapag Canada Corp. has finalized a $375-million contract to build 85 kilometres of the Trans Mountain pipeline expansion.
The joint venture will build a section of the expansion in the Coquihalla-Hope area. Construction also includes upgrades to one pump station. Construction is anticipated to start once regulatory requirements are met, the company says, with the contract expected to last until November 2019.
“As a British Columbia based company, we are proud to be part of this important project," Macro President and CEO Frank Miles said.
"We will continue to support Trans Mountain in their continual engagement with stakeholders, specifically working with Aboriginal and local communities ensuring positive working relationships now and in the future.”
Macro began in Fort St. John in 1994. Company shares rose sharply today, rallying 11 cent, or 4.33 per cent, to $2.65. Shares have risen 23.26% year to date.
Spiecapag is part of the Entrepose Group, and has built pipelines across the world, including Angola, South Africa, Colombia, and Yemen.
The $7.4-million pipeline expansion will increase Trans Mountain capacity to 890,000 bbls per day from 300,000 bbls a day between Edmonton and Burnaby.
A legal challenge against the project began in federal court on Oct. 2, while the NDP government reiterated this week it would use every available means to halt the project.
Meanwhile, a recent Angus Reid poll found 47 per cent of British Columbians believe the pipeline should proceed as planned. Just 33 per cent thought the project should be scrapped.