Enbridge Gets Regulatory Nod for Construction of Michigan Pipeline


Shutterstock photo

Enbridge (ENB.TO) shares are up more than 1% and near 52 week highs in Canada after regulators in Michigan granted permission for the company to finish replacing an underground pipeline that ruptured and spilled more than 800,000 gallons of oil in July 2010.

The state Public Service Commission late yesterday approved the last of three permits the company needs to construct the Michigan portion of the $1.6 billion project. ENB plans to replace the entire 286-mile-long pipeline, which runs from Griffith, Ind., to Sarnia, Ontario. It also is seeking permits to replace a 60-mile section of the pipeline in northern Indiana.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com