(Reuters) – Equitrans Midstream Corp said on Monday it will evaluate the cost and timing of the completion of the Mountain Valley natural gas pipeline based on ongoing litigation and upcoming federal approvals.

FILE PHOTO: An aerial view of the under-construction Mountain Valley Pipeline near Blacksburg, Virginia, U.S. September 30, 2019. REUTERS/Charles Mostoller

The U.S. Federal Energy Regulatory Commission (FERC) gave Mountain Valley permission late Friday to resume some construction on its $5.4 billion-$5.7 billion pipeline, which runs from Virginia to West Virginia.

“As the litigation process progresses and as we receive additional information from FERC regarding potentially releasing the remainder of the route for construction, (Mountain Valley) will continue to evaluate its current construction plans, budget, and schedule,” Equitrans said.

Mountain Valley is one of several U.S. oil and gas pipelines delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits issued by the Trump administration.

FERC suspended work on Mountain Valley a year ago due to litigation over the project’s Biological Opinion from the U.S. Fish and Wildlife Service (FWS), which allows construction in areas inhabited by endangered and threatened species.

The FWS issued a new Biological Opinion in early September. Environmental and other groups continue to challenge the latest FWS approval and other federal permits in court.

Analysts at Height Capital Markets said they expect the project to enter service in mid 2021 but noted timing could slip to the third quarter of 2021 if legal challenges prevent some stream crossings.

“We acknowledge the legal challenge that is currently before Fourth Circuit Court of Appeals and have agreed to temporarily delay stream and waterbody activities out of respect for that process,” Equitrans said.

Equitrans has said it expects the pipeline, which is about 92% complete, to enter service in early

LONDON, Oct 13 (Reuters)Britain’s debt mountain is likely to rise and hold above 100% of gross domestic product for at least the next few years but Prime Minister Boris Johnson should be in no rush to tackle it with tax hikes, a think tank said.

Public borrowing in 2020 will hit a level unseen outside the two world wars, thanks to the government’s 200 billion-pound ($260 billion) coronavirus spending surge and a 95 billion-pound hole in tax revenues, the Institute for Fiscal Studies said.

Britain’s public debt pile has already hit 2 trillion pounds, or just over 100% of gross domestic product.

The IFS said it was likely to stand at 110% of GDP in the 2024-25 financial year, the end of its forecast period.

“Without action, debt – already at its highest level in more than half a century – would carry on rising,” IFS director Paul Johnson said. “Tax rises, and big ones, look all but inevitable, though likely not until the middle years of this decade.”

Just to keep debt at 100% of national income, the government would need to raise taxes – or cut spending – by about 2% of national income in 2024/25, or 40 billion pounds.

The world’s sixth-biggest economy has weaker growth prospects than some of its peers because of the large share of jobs hit hardest by the pandemic and the drag from Brexit, according to analysts at bank Citi who worked with the IFS.

At the same time, demands for higher spending on healthcare are unlikely to fade.

Finance minister Rishi Sunak ripped up the economic orthodoxy of his Conservative Party by unleashing a wave of public spending at the onset of the pandemic.

He says his priority remains to slow rising job losses although he has replaced his

(RTTNews) – Iron Mountain Inc. (IRM), the storage and information management services company, announced Tuesday the formation of a 300 million+ Euro joint venture with an affiliate of AGC Equity Partners, a London-based global alternative asset manager, to design and develop a 280,000 square foot, or 27 megawatt, hyperscale data center currently under development in Frankfurt, Germany.

Frankfurt Data Center is 100% pre-leased to a U.S.-based Fortune 100 customer subject to a 10-year lease agreement. Full build-out of the 27 megawatt data center is expected in the second quarter of 2022.

Iron Mountain will be responsible for managing the design and development of the data center as well as administering the Lease.

Under the terms of the agreement, AGC will own an 80% equity interest and Iron Mountain will own a 20% equity interest in the Venture. AGC contributed cash to purchase its 80% equity interest in the Venture, while Iron Mountain retained a 20% equity interest in the Venture.

Iron Mountain will earn various fees, including property management and construction and development fees for services provided to the Venture.

Debt financing for the Venture is expected to close in the fourth quarter of 2020, with proceeds expected to fund a portion of the planned development and construction costs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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