WATCH: It’s the biggest private investment in Canadian history. The $41 billion LNG Canada plant and pipeline project is a go for northwestern B.C. And with it, they say, will come thousands of jobs and an economic boom for the province. Mary Griffin reports.
Construction is going ahead on a massive liquefied natural gas project in northern B.C., hours after five primary investors from five different countries granted their approval for the joint venture.
Prime Minister Justin Trudeau announced the largest private investment in Canadian history on Tuesday.
“Today is a good day. It’s a good day for Canada. It’s a good day for Canadian workers. about 10,000 of them, in fact,” Trudeau said.
As construction peaks in the next three years, it’ll create 10,000 jobs. At its completion, there will be 950 permanent high paying jobs and $23 billion in direct government revenue over 40 years. Premier John Horgan said this project will have an impact for years to come.
“This is about a commitment from the people of British Columbia, to our resources, and to do what we can to make life better for British Columbians, make life better for Canadians, and make life better for people around the world,” Horgan said.
LNG Canada will receive PST exemption during construction, get a break in paying industrial electricity rates instead of LNG rates from BC Hydro, and the province repealed the LNG-specific income tax introduced by the previous Liberal government.
Former Social Credit Party Premier Bill Bennett tried to bring LNG to BC back in 1982.
“We’ll make British Columbia number one, again,” Bennett said 26 years ago.
Now with billions from the LNG industry, the island and province will benefit, according to Premier Horgan.
“The revenues that we get to the crown, means that we can build the schools that we need. In my district, Sooke for example, the fastest growing district on the Island. We can’t keep pace with the number of new families coming. We need childcare spaces. We’ll be able to pay for those because there are new revenues coming to the province,” Horgan said.
The project includes the massive gas-liquefaction plant in Kitimat, and a 670-kilometre pipeline delivering natural gas from the northeast corner of the province.