TransCanada, Phoenix team up to build $3-billion Alberta pipeline

TransCanada Corp.and Phoenix Energy Holdings Ltd. are forming a partnership to build a $3-billion pipeline project in Northern Alberta to serve an area of emerging oil sands production.

Each of the companies would own half of the Grand Rapids project, which they expect will carry crude oil and diluent for oil sands producers northwest of Fort McMurray, Alta., starting in early 2017.

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