Agriculture Minister Devin Dreeshen tabled a bill earlier this week that would allow massive expansions for irrigation districts in Alberta.
The districts own and operate hundreds of kilometres of water canal and pipeline infrastructure, as well as reservoirs to feed the systems.
“This act essentially enables the largest single-time investment in irrigation to be become a reality,” Dreeshen said.
Bill 54, the Irrigation Districts Amendment Act, would do two things: first, it would give irrigation districts the option to create bylaws to limit the number of consecutive terms a board member can serve. Second, it would define commercial activity — allowing irrigation districts to borrow money for large-scale expansions.
“It doesn’t allow irrigation districts to go out and build a car dealership,” said Minister Dreeshen. “This is something that it has to be specific for the needs of irrigation districts.”
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Irrigation plays a big role in Alberta agriculture, especially in southern parts of the province. Alberta has more than 1.7 million irrigated acres and the province estimates 200,000 more acres of land will receive new irrigation.
The amendment comes after an $815-million investment last fall. The Alberta government partnered with eight irrigation districts and the Canadian Infrastructure Bank to modernize irrigation infrastructure and increase water storage capacity throughout southern Alberta.
The eight irrigation districts participating in the investment are Bow River Irrigation District, Eastern Irrigation District, Lethbridge Northern Irrigation District, Raymond Irrigation District, St. Mary River Irrigation District, Taber Irrigation District, United Irrigation District and Western Irrigation District.
The expansion plan would create two new reservoirs and expand two existing reservoirs in southern Alberta, as well as convert open air canals into pipelines.
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“That whole deal and size of expansion needs to have clear definition of what commercial activity is,” Dreeshen said. Bill 54 would help provide that.
St. Mary River Irrigation District general manager David Westwood has been part of the planning for the funding since conversations started back in late summer 2020.
St. Mary plans to carry out 26 modernizations and a reservoir expansion. The total cost is close to $300 million.
Westwood said that the investment opportunity and clarification of the bill has made it all possible.
“This was kind of the final piece of the puzzle,” Westwood said. “I was really happy to see it all come to fruition.”
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
