New Power Line Could Mean Up To 15 BIllion In Investment
By 250 News
Thursday, February 24, 2011 04:00 AM
Prince George, B.C. - Community leaders and business leaders alike are expressing their joy over the Provincial Environmental Assessment approval for the North West Corridor power project.
The proposed $404-million project includes a new 287-kilovolt transmission line, 344-kilometres from the existing Skeena substation south of Terrace to a new substation near Bob Quinn Lake.
The project would include new access roads, an upgrade to the existing Skeena substation and construction of the new Bob Quinn substation, which would incorporate 287-kilovolt line terminations and related equipment.
Byng Giraud, VP of Corporate Affairs for Imperial Metals which has the Red Chris, gold and Copper project says he is ecstatic and while there remain some minor issues in dealing with First Nations along the highway and right of way, “I am pretty pleased. We have been working on this project since 2007 and to see it come to a conclusion makes me feel good."
The CEO of Initiatives Prince George Tim McEwan says the power grid clears the way for upwards of 15 billion dollars in investment along the power line. Initiatives Prince George is part of the coalition and McEwan says the benefits to this city and region are obvious.
The new line says McEwan will also provide an opportunity for Alaska to use the line to transmit power made in Alaska to south of the 49th parallel. "That also will have positive economic benefit to us as well" he added.
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I also believe that, companies are not going to invest until we decide which party is going to be in Victoria. Kevin Falcon gets in, we will be busy. If the NDP gets in, we will see great deals on housing in about three years.