Developers say Mountain Valley Pipeline to now cost $4.6B
Developers of a natural gas pipeline set to run through West Virginia and Virginia say the project's cost has risen from $3.7 billion to $4.6 billion.
Mountain Valley Pipeline developers released the revised cost estimate Monday.
A Mountain Valley statement says about half of the increase is due to a construction lull last month. That pause was due a federal appeals court invalidating two permits and the Federal Energy Regulatory Commission ordering work halted.
Mountain Valley says the remaining cost increase is due to "extraordinary rainfall events," hurricane prep and "unanticipated construction costs overruns."
The project has been in the works since 2014 when Mountain Valley estimated its cost at $3 to $3.5 billion. It hopes to finish the project by the fourth quarter of 2019.
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