TransCanada has obtained a presidential permit from the US Department of State for the construction of the Keystone XL Pipeline.
The move reverses a decision by Trump’s predecessor who blocked the construction of the pipeline. TransCanada said that it would continue to work with key stakeholders in Nebraska, Montana and South Dakota to secure the required permits to advance the $8bn project to construction.
The Keystone XL project is a proposed 36in-diameter crude oil pipeline, beginning in Hardisty, Alberta, and extending south to Steele City, Nebraska. It has been designed to carry 830,000 barrels of oil per day.
Russ Girling, TransCanada president and CEO, said: "This is a significant milestone for the Keystone XL project.
"We greatly appreciate President Trump's Administration for reviewing and approving this important initiative and we look forward to working with them as we continue to invest in and strengthen North America's energy infrastructure."
* Data provided by Timetric's Construction Intelligence Center.