(The Canadian Press, Financial Post)
TransCanada Corp. is changing the way it tackles new projects, having learned the hard way how politics can affect construction schedules and costs, CEO Russ Girling said Monday.
In a year-end interview with The Canadian Press, Girling said the company won’t start procuring materials or securing land for pipelines until it knows for sure it has regulatory approval in hand.
TransCanada has already sunk $2.5-billion into its controversial $7.6-billion Keystone XL pipeline, which has yet to be awarded a federal U.S. permit after a litany of delays and setbacks.
"We won’t make that mistake again," said Girling.