Ottawa’s support sought for Lower Churchill project

Our government, along with the Nova Scotia government, is aiming to get a loan guarantee from Ottawa for the proposed Lower Churchill hydroelectric project (for more on project consultations see Indy coverage). Natural Resources Minister Shawn Skinner says it’s believed this guarantee would be the best option for the federal government to participate in the $6.2-billion project. Skinner says it would help reduce interest rates and lower the final cost of financing it all, plus Ottawa wouldn’t need to contribute funding. The provinces’ desire for $375 million in funding from the feds was requested last June, and Ottawa has asked for more information which will be presented today.

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