Precision Pipeline, LLC Selected by TC Energy to Help Construct Keystone XL

Rhea-AI Summary

On January 5, 2021, Precision Pipeline, LLC, a subsidiary of MasTec (NYSE:MTZ), secured a contract from TC Energy for the construction of the Keystone XL Pipeline in Montana and South Dakota. The project will employ 1,600 American union workers and is expected to generate $55 million in annual property tax revenues. Precision Pipeline emphasizes local hiring and community involvement, aiming to enhance the safety and well-being of surrounding areas during construction. This initiative signifies a substantial investment in North America's infrastructure, fostering economic growth in local communities.

Positive

• Awarded contract for Keystone XL Pipeline, enhancing infrastructure.
• Expected to create 1,600 union jobs over two years.
• $55 million in annual property tax revenues projected.
• Focus on local hiring and community investment.

Negative

• None.

EAU CLAIRE, Wis., Jan. 5, 2021 /PRNewswire/ -- Precision Pipeline, LLC, (PPL) a MasTec, Inc. (NYSE:MTZ), company, has been awarded a contract from TC Energy Corporation ("TC Energy") for the construction of the Keystone XL Pipeline in Montana and South Dakota.

"We are extremely proud to put PPL employees and more than 1,600 American union members to work on completing this important infrastructure project, which will also provide a boost to local economies along the project route," says Bobby Poteete, President of PPL. "As a Wisconsin business, we're proud to be awarded such a large contract for a significant North American infrastructure project and we look forward to working with TC Energy, local communities and businesses to bring Keystone XL to life."

"We are proud to be associated with such a well-thought-out project that has evolved into being inclusive to all its constituents. With a significant equity investment by the Indigenous communities and a commitment to construct the project with an all-union workforce in the U.S., Keystone XL is a critical infrastructure project that has evolved significantly over the last few years. Today, Keystone XL is one of the most diversified infrastructure projects in this country," says José R. Mas, Chief Executive Officer of MasTec, Inc.

PPL will be responsible for hiring an estimated 1,600 union workers over the two-year construction period. "We are committed to hiring locally and giving priority to qualified local and Indigenous businesses, and strive to be a leader in promoting opportunities," says Michael Hyke, Vice President of Midwest Operations at PPL.

According to TC Energy, in addition to job creation, the Keystone XL Pipeline Project is expected to contribute $55 million in annual property tax revenues, with millions in economic benefits going directly to education and essential community services alone. PPL is 100% committed to safety, the communities it works in and to being part of something bigger than the project. "With added focus on improving the health and safety of our environment, our people and overall well-being of the communities we work in, we truly make a difference during the construction of each infrastructure project and beyond," adds Poteete.

About Precision Pipeline, LLC
Precision Pipeline, LLC was founded in 2004 in Eau Claire, Wisconsin, by Steve Rooney and Dan Murphy. Veterans of the industry, Murphy and Rooney maximized their work relationships to build the premier pipeline construction company in just five short years. In 2009, PPL joined the MasTec, Inc. group of infrastructure companies to be its premier union oil and gas service line. Precision Pipeline is not a new contractor; we are the Next Generation Pipeline Contractor.
Visit PrecisionPipelineLLC.com.

 

View original content:http://www.prnewswire.com/news-releases/precision-pipeline-llc-selected-by-tc-energy-to-help-construct-keystone-xl-301199458.html

SOURCE Precision Pipeline, LLC

FAQ

What contract was awarded to MasTec’s subsidiary Precision Pipeline?

Precision Pipeline was awarded a contract by TC Energy for the construction of the Keystone XL Pipeline.

How many jobs will the Keystone XL Pipeline project create?

The project is expected to create approximately 1,600 union jobs.

What economic benefits are projected from the Keystone XL Pipeline?

The project is estimated to generate $55 million in annual property tax revenues.

Where will the Keystone XL Pipeline be constructed?

The pipeline will be constructed in Montana and South Dakota.