The province’s cabinet representative in Ottawa is aware the word is out on an announcement scheduled for Friday morning in St. John’s involving the federal Minister of Natural Resources, but he would not confirm that it will offer details on a loan guarantee for the $6.2 billion Muskrat Falls project.
“I know the word is out that there will be an announcement tomorrow, but all I will say is stay tuned and we will do what we need to do tomorrow,” said Labrador MP Peter Penashue, who was in St. John’s today to announce a multi-million dollar investment in the provincial agriculture sector.
Federal Minister of Natural Resources Joe Oliver is set to make an announcement at Atlantic Place in St. John’s Friday where it is expected he will provide details on a loan guarantee from the federal government to fund the Muskrat Falls hydroelectric project.
Provincial Minister of Natural Resources Shawn Skinner, who was also on hand with Penashue at the Atlantic Cool Climate Crop Research Centre, said he could not confirm or deny an announcement will be made on Friday.
Prime Minister Stephen Harper said Newfoundland and Labrador would receive a loan guarantee or equivalent funds at a campaign stop in St. John’s during the spring federal election. A loan guarantee was not included in the most recent federal budget, though government’s commitment to the project was reaffirmed in the June 3 Speech from the Throne.