N.L. government in talks with feds on Muskrat Falls
The Newfoundland and Labrador government is still engaged in discussions with its federal counterpart about the Muskrat Falls hydroelectric mega-project, a federal cabinet minister says.
Public Services and Procurement minister Judy Foote said Wednesday that talks were "ongoing" between the two sides, but wouldn't elaborate on what was being considered.
"I think what you have to do is not overshadow all the other wonderful things that are going on in our province to discuss just Muskrat Falls," said Foote, who is also the province's representative in the federal cabinet.
"We're working with the province all the time, on any number of files."
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In 2012, the federal government offered the province a loan guarantee, which let Newfoundland and Labrador borrow about $5 billion at lower interest rates.
Since that agreement was signed, costs for the project have jumped significantly. Nalcor CEO Stan Marshall said in June that he is asking for a larger loan guarantee from the federal government to reduce borrowing costs.
Including interest, the cost of the Muskrat Falls project has risen to about $11.4 billion, an increase of $4 billion since sanction.
With files from Carolyn Stokes