A First Nations led group plans to submit their bid for the Trans Mountain Pipeline by the end of the week.
Project Reconciliation is made up of members of First Nations from Saskwatchewan, Alberta, and BC.
They plan to submit a bid of 6.9 billion dollars for the currently federally owned pipeline, and hope to begin negotiations in Ottawa two weeks later.
Of that, 2.3 billion would be earkmarked for a majority 51 percent share in the pipeline, while 4.6 billion would cover roughly half the expansion project.
Afterwards they plan to invest 200 million annually from the project’s proceeds to an Indigenous sovereign wealth fund.
Canada would retain a 49 percent ownership stake.
Ottawa purchased the pipeline for 4.5 billion dollars last summer with the intention to sell it off.
