Enbridge Proposing $100M First Nations Trust
By 250 News
Prince George, B.C. - Enbridge Inc. is upping the ante in its bid to gain support for its proposed $5.5-billion dollar Northern Gateway pipeline project from Bruderheim, Alberta to Kitimat, B.C..
During a conference call to discuss the Calgary-based company's year-end financial results last week, CEO Pat Daniel, announced the company has offered First Nation groups living along the proposed route a 10-percent equity stake in the project. At that time, Daniel said "So far, it has been well received and we are hopeful that more communities will understand and appreciate the long term economic benefits of this project." (click here for previous story)
And Yesterday, Enbridge announced plans to establish a community trust for those same groups. The company says it will put one-percent of Northern Gateway's pre-tax earnings into a trust, which is expected to generate $100-million dollars over 30-years. Furthermore, the company says it expects roughly 15-percent of the project's construction labour force to be aboriginal.
Both First Nation groups and environmentalists have been vocal opponents to the proposed twin pipeline project, citing concerns over the highly sensitive watersheds involved, the geographical challenge of cleaning up a spill and the impact on traditional hunting and fishing. The federal joint review panel tasked with assessing the project requested more information from Enbridge just last month on the design and risk assessment of the project, due to the geo-technical aspects of the proposed pipeline.
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