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Province will complete Site C dam with new $16 billion price tag

But cancelling the project now would be an even worse deal for taxpayers, the government concludes. Cancelling Site C when it was half done would have meant laying off 4,500 workers, just as we re coming out of the impact of the pandemic, Premier John Horgan said in a press conference Friday. It would have left us with a $10 billion debt and nothing to show for it. That $10 billion debt would have meant a rapid increase in rates for people on average about $216 a year starting right away, and that was also something we were not prepared to do. He added that the project was one that his government would never have started in the first place, but also noted that some of the cost overruns the project now faces are ones that no one could have anticipated.

Cost of B C s Site C dam rises to $16B, completion delayed until 2025

The cost of British Columbia's Site C hydroelectric dam has grown by $6 billion, bringing the price tag of the megaproject to $16 billion and stretching the completion date to 2025.

Site C dam project will proceed

The project on the Peace River near Fort St. John was started by Christy Clark’s B.C. Liberal government in 2015. However, Milobar called the latest cost overruns “disappointing.” On Friday, the province announced the project’s price tag had ballooned to $16 billion, about $5 billion more than the last estimate. Milobar said during the transition of power between the B.C. Liberals and BC NDP in 2017, the New Democrats confirmed the project was on time and on budget.  “To see it now, essentially double in costs and well behind schedule, is concerning,” Milobar said, adding he hopes the latest project team restructuring and experts will bring an end to cost overruns and project delays.

B C s Site C dam cost jumps to $16 billion, delayed until 2025

B C s Site C dam cost jumps to $16 billion, delayed until 2025
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