Penashue says loan guarantee coming soon

Federal cabinet minister Peter Penashue says a federal loan guarantee for the $6.2-billion Muskrat Falls hydroelectric project in Labrador could be finalized by the end of the summer. “I certainly hope it will be done before the [provincial] election because I think that for the province, it’s very important. It’s very important for Labrador,” said Penashue, the Member of Parliament for the federal riding of Labrador, on Tuesday.”There are a lot of jobs riding on that project and the prime minister made a commitment for the loan guarantee. It’s there.”

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