February 23rd, 2024

AIMCo expresses interest in buying a stake in Trans Mountain pipeline

By The Canadian Press on January 25, 2024.

Alberta Investment Management Corp. CEO Evan Siddall in Calgary, Alta., Wednesday, Sept. 21, 2022. The Alberta Investment Management Corporation (AIMCo) has expressed an interest in purchasing a potential stake in the Trans Mountain pipeline. THE CANADIAN PRESS/Jeff McIntosh

CALGARY – The Alberta Investment Management Corporation (AIMCo) has expressed an interest in purchasing a potential stake in the Trans Mountain pipeline.

AIMCo CEO Evan Siddall said Thursday in an interview with BNN Bloomberg that the Trans Mountain pipeline is the type of Canadian infrastructure asset that the investment manager would consider if it is made available.

AIMCo spokeswoman Carolyn Quick later confirmed the remarks in an email to The Canadian Press.

The Trans Mountain pipeline is Canada’s only oil export pipeline to the West Coast, and construction on its ongoing expansion project is expected to be complete in the near future.

The federal government purchased the pipeline in 2018 in order to ensure the completion of the expansion, but has indicated it does not wish to be the long-term owner of the pipeline.

AIMCo is one of Canada’s largest institutional investors, with 17 pension, endowment and government fund clients in Alberta.

This report by The Canadian Press was first published Jan. 25, 2024.

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