Federal and provincial update on Lower Churchill project in Labrador – February 14, 2022

February 14, 2022 at 10:38 am  Federal, Politics



In St. John’s Andrew Furey, the premier of Newfoundland and Labrador, provides an update on the financial restructuring of the Lower Churchill hydroelectric project. He announces term sheets for a $1 billion federal loan guarantee for the Muskrat Falls and Labrador Transmission Assets, and a $1 billion term sheet for the Labrador-Island Link Investment by the province and the federal government. Premier Furey is joined by federal MPs Seamus O’Regan (St. John’s South—Mount Pearl), Gudie Hutchings (Long Range Mountains), and Yvonne Jones (Labrador). Brendan Paddick, lead for the Rate Mitigation Team, joins via teleconference. Premier Furey and Minister O’Regan also comment on the ongoing protests against COVID-19 vaccine mandates.

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