Energy East builder TransCanada to announce deal with big international firm

MONTREAL – The company planning to build the Energy East pipeline says it has concluded a “major supply agreement” with an international firm that will benefit the Quebec economy.

Officials of TransCanada Corp. (TSX:TRP) and the president and CEO of ABB Canada are going to be in Montreal on Wednesday to sign the deal.

ABB Canada is a division of ABB Group, a huge Swiss-based power and automation technology firm whose customers are involved in utilities, industry, transport and infrastructure.

ABB’s Canadian operations are based out of the Montreal area.

The $15.7-billion Energy East pipeline would carry a million barrels a day of western crude as far east as Saint John, N.B., serving both domestic refineries and international customers.

Energy East has run into stiff opposition in Quebec, with the mayors of Montreal and surrounding municipalities arguing that environmental risks outweigh the economic rewards.

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