TransCanada wins approval to build Northern Courier project


TransCanada (TRP +0.4%) says Alberta's energy regulator has approved its application to build and operate the C$800M Northern Courier pipeline project.

TRP says the 56-mile pipeline will carry bitumen and diluent products between the Fort Hills oil sands mine and Suncor's (NYSE:SU) East Tank Farm north of Fort McMurray, Alberta; it is expected to be in service by 2017.

TRP says Northern Courier is an important part of its capital growth plan, which includes C$38B of commercially secured projects expected to be completed by the end of the decade.

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