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Quanta Services Selected by TransCanada for Joint Venture to Build Keystone XL Pipeline
Quanta Services, Inc. (NYSE: PWR) today announced that TransCanada Corporation (TSX: TRP, NYSE: TRP) has selected Price Gregory Services, Incorporated, a Quanta Services operating unit, to be part of a joint venture called MPS Constructors, LLC (MPS), that will build 1,179 miles of pipeline and related infrastructure from Hardisty, Alberta, to Steele City, Neb., as part of the TransCanada Keystone XL Pipeline project. MPS consists of three pipeline construction companies: Michels Corporation, Price Gregory Services, Incorporated and Sheehan Pipeline Construction Company. The project remains subject to TransCanada obtaining all required approvals and completing the contract with MPS. The scope of services to be provided by each joint venture member is still being defined and the finalization of the terms of the joint venture and associated contracts are in process. Quanta anticipates, however, that it will play a significant role in the construction of the pipeline infrastructure for the Keystone XL Pipeline project once all approvals and agreements are finalized.