The forecast cost of the Trans Mountain Pipeline expansion (TMX) has climbed to C$30.9 billion ($23.2 billion) and could jump again by construction completion, according to a project update by the Canadian government-owned company.

“As with all projects of this size, risks to the final costs and schedule will remain as work is completed through 2023,” said Trans Mountain Corp. “The current cost estimate does not include reserves for extraordinary risks that can impact projects of this nature.”

The firm blamed the 44% jump from its previous forecast of C$21.4 billion ($16 billion) on economic conditions and problems on the British Columbia (BC) half of its 992-kilometer route to Vancouver Harbor from the Alberta capital in Edmonton.

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