UPDATE: Enbridge to Undertake Additional $0.4 Billion Canadian Mainline Expansion; Shrs Near Yr Highs

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Enbridge Inc. (ENB.TO), which is edging towards a year high $43.40, today announced further expansion of the Canadian mainline system between Hardisty, Alberta, and the U.S. border. The expansion will add an additional 230,000 barrels per day of capacity at an estimated cost of approximately $0.4 billion and involves increased pumping horsepower, with no line pipe construction. The expansion will require regulatory approvals.

The Canadian mainline is held by Enbridge Pipelines Inc. ( EPI ), a wholly owned subsidiary of Enbridge Inc. The expansion has been approved by mainline shippers under the terms of EPI's Competitive Tolling Settlement, and is expected to be in service in 2015



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This article appears in: Investing , Commodities

Referenced Stocks: EPI

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