Horizon repairs cost $726m
Apr 18, 2012 at 2:04 pm in Business, News by tyler.king
The price tag for the repairs to CNRL’s Horizon project has been revealed – and it wasn’t cheap.
The Canadian Underwriter Insurance Journal reports that repairing the project after last January’s explosion and fire cost the company 726 million dollars.
The explosion happened because of an error in a valve opening at the top of a coking drum.
Physical damage to the coker was 393 million dollars while the business interruption cost the company the additional 333 million dollars.
Published April 18, 2012