More on SNC-Lavalin and AltaLink

RETA has been reporting on Montreal-based SNC-Lavalin’s ownership of AltaLink. Well, it’s now official…the Daily Commercial News reports that SNC-Lavalin has finalized the purchase of the remaining 23.08% of ownership in Calgary-based AltaLink, so now owns 100% of the company.

Concerns were raised at the recent Alberta Utilities Commission hearing on the proposed Heartland power line about the high SNC-Lavalin engineering and management costs on this project. However, since the Alberta Government has included the Heartland Transmission Project within the Bill 50 dubiously-labeled “critical transmission infrastructure”, the public, industry and business community have no opportunity to ask questions on the cost accounting (or indeed the need) for this line. It’s nice to know the profits reaped by AltaLink from all of its projects in Alberta will be flowing to SNC-Lavalin in Montreal. And, the good news is, all of AltaLink’s transmission infrastructure will be fully paid for by Alberta electricity ratepayers, thanks to the Alberta Government’s changes to the infrastructure funding model some years ago.

The news gets even better. A little digging on SNC-Lavalin provides some insight into the kind of company that owns and controls AltaLink. Rabble.ca reports that SNC-Lavalin built a jail in Libya for Gadhafi to throw protesters into (before he was overthrown), and has been conducting other significant business with Gadhafi since 1986, totalling well over $1 billion.

This recent article provides details on many other SNC-Lavalin business arrangements (that Bourque Newswatch considers questionable) in Newfoundland, Quebec, Bangladesh and India, involving alleged kickbacks, creative accounting, and heavy lobbying of Canada’s federal Ministers and senior federal bureaucrats by SNC-Lavalin.

For more on SNC Lavalin, AltaLink and their questionable ties, see https://retasite.wordpress.com/category/snc-lavalin/ .

~ by RETA on September 22, 2011.

 
%d bloggers like this: