UPDATE: TransCanada Turns Positive Amid Reports It Is Ready To Begin Construction on Keystone XL Pipeline
TransCanada Corp. (TRP.TO) is gearing up to begin construction on the US$7-billion Keystone XL pipeline, anticipating a favourable report on the project's environmental impact from the U.S. State Department as early as Friday, the Globe and Mail reported. TransCanada was up 10 cents at $41.73 and has touched a day high $41.90 having fallen to a day low $40.84 in early trading.
It said the environmental assessment represents the single biggest regulatory hurdle facing the Calgary-based company, which has been confronted with a high-profile backlash over the pipeline from environmentalists, some U.S. politicians, and residents along the route.
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