TransCanada Expands Its Presence in Québec
MONTRÉAL, QUÉBEC--(Marketwired - Feb. 23, 2016) - Media Advisory – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today it has expanded its 60-year presence in Québec with a larger corporate provincial office located in Montréal. This new office will be home to over 40 employees from different disciplines working on the Energy East Pipeline Project and other businesses on behalf of the company.
With continued strength of our existing pipeline and power assets in the province and the need for more locally-based expertise to work closely with Québecers on our proposed Energy East project, a new location was needed for the company's Québec employees, said Louis Bergeron, Energy East's vice president for Québec and New Brunswick.
"Since I began my new role I've worked to ensure Energy East has an expanded provincial presence with more Québecers involved directly in the development of the project," said Bergeron. "The expansion of our office is a testament to our commitment to have more people on the ground here - listening to people and addressing their concerns with respect and understanding."
Employees at the new office will also support TransCanada's existing businesses in Québec, where TransCanada employees have been living and working since the late 1950's managing the Trans Québec & Maritimes Pipeline, and wind and natural-gas fired power generation facilities that heat the homes of Québecers and businesses. TransCanada already employs more than 200 people working on these existing and proposed assets.
"We're committed to maximizing the economic benefits for Québec and this office is a clear statement that TransCanada will create even more opportunities for local businesses as we develop and operate the Energy East pipeline," added Bergeron. "Opportunities above and beyond the 140 people already working on Energy East in the province and the $115 million in contracts we've signed with more than 250 Québec suppliers and businesses."
This announcement follows a project update in early February that highlighted TransCanada signing a major agreement with an international electronics firm that would see the firm deliver a number of multi-million dollar electrical houses to secure safe, reliable and energy efficient power distribution for pump stations along the Energy East Pipeline. The agreement will create up to 120 jobs in Québec and a further 90 spin-off jobs outside of the greater Montréal area.
As the Conference Board of Canada concluded, the $15.7 billion Energy East project will create over 3,000 jobs each year in Québec during the nine years of planning and construction for the pipeline, along with $972 million in tax revenue for the province. When the pipeline goes into service, total tax revenues for Québec will be $1.2 billion for the first 20 years of its operation.
Please go to our Energy East websites to read about project benefits and our commitment to safety.
Note to editors: Video and photos of TransCanada's expanded Montréal office can be found here.
With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 67,000 kilometres (42,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with 368 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 13,100 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.
FORWARD LOOKING INFORMATION
This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the quarterly news release dated February 11, 2016 and 2015 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
TransCanada Media Enquiries:
Tim Duboyce / Mark Cooper
514.982.8421 or 800.608.7859
TransCanada Investor & Analyst Enquiries:
David Moneta / Stuart Kampel
403.920.7911 or 800.361.6522