Reuters: Kinder Morgan talking with investors for Trans Mountain project

|About: Kinder Morgan, Inc. (KMI)|By:, SA News Editor

Kinder Morgan (KMI -0.4%) has begun talks with institutional investors including three of Canada's biggest pension funds as well as P-E firms to raise capital for the C$6.8B (US$5.2B) Trans Mountain pipeline expansion project, Reuters reports.

KMI, which has said its goals for 2017 include a joint venture or IPO of Trans Mountain, is stepping up its financing efforts despite strong opposition of the project from various environmental and aboriginal groups.

KMI has hired Toronto Dominion Bank as an adviser to help arrange financing for the project, with a formal process to attract JV partners via the sale of a 50% stake in the project getting underway, according to the report.