Pembina Pipeline plans $670M expansion of lines

Pembina Pipeline Corp. (PPL-T 27.37 0.03 0.11%) said on Wednesday it will spend $670 million on a 108,000 barrel per day expansion of its Western Canadian pipeline systems.

The company, which reported a 2 percent rise in third-quarter profit on Tuesday, said it plans to boost the size of its Peace and Northern pipeline systems to accommodate rising production.

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