The project continues momentum for economic recon - ciliation with Indigenous communities, with Coastal Gas - Link set to become one of Canada’s largest infrastruc - ture projects with Indigenous ownership. Once the pipeline is in service, 17 of the twenty First Nations along the pipeline route have signed an agree - ment for the option to buy a 10 percent stake. “The opportunity was made available to all 20 Indige - nous communities holding existing agreements with Coastal GasLink and is an important step on the path to true partnership through equity ownership in the proj - ect,” Westover said. The ownership stakes are in addition to numerous agree - ments and contracts reached with Indigenous commu - nities along Coastal GasLink’s path. In all, the project spent $1.8 billion with Indigenous and local businesses.
‘Once the pipeline is in service, 17 of the twenty First Nations along the pipeline route have signed an agreement for the option to buy a 10 percent stake.’ According to TC Energy, the project created more than 25,700 full-time equivalent jobs and took 55 million hours to complete. The project generated $3.2 billion to B.C.’s GDP, some $331 million in tax revenue, and $3.95 billion in spending with B.C. businesses and suppliers. As well, during construction, Coastal GasLink and TC Energy spent over $13 million in community investments and sponsorships to support local and Indigenous com - munity initiatives. SPOTLIGHT MAGAZINE ON BUSINESS MAGAZINE • VOL 23 ISSUE 5 15
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