Hydro dam project to cost $2.2 billion more and take almost two more year to complete.
Manitoba Hydro announced today that the Keeyask Generating Station budget has grown to $8.7 billion and the project will take an additional 21 months to complete.
The Nelson River dam is expected to add 695 megawatts to the provincial power grid and come on-line in August of 2021.
“Keeyask is a large and very complex project and the updated control budget is a realistic estimate based on what we know today,” said Kelvin Shepherd, President and CEO of Manitoba Hydro. “However, there is always a chance of additional risks materializing that could impact the schedule and costs.”
This massive budget increase comes just weeks after Manitoba Hydro announced that it would be cutting 900 jobs in an effort to get finances in order.
RELATED | MANITOBA HYDRO CUTS MORE THAN 900 JOBS
“Completing Keeyask will allow us to fulfill export contracts worth approximately $4.5 billion,” Shepherd said. “Despite the increased cost to complete construction, stopping now is not an economically viable option as the significant costs of cancellation—together with lost revenues—more than offset any potential savings.”
-News4 Staff-
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