March 22, 2018 / 6:23 PM / 7 months ago

BRIEF-Wataynikaneyap Power Project Funding Announced - Fortis Updates Five-Year Capital Investment Plan

March 22 (Reuters) - Fortis Inc:

* WATAYNIKANEYAP POWER PROJECT FUNDING ANNOUNCED - FORTIS UPDATES FIVE-YEAR CAPITAL INVESTMENT PLAN

* FORTIS INC - ‍INCREASE FIVE-YEAR CAPITAL INVESTMENT PLAN BY APPROXIMATELY $600 MILLION TO $15.1 BILLION THROUGH 2022​

* FORTIS INC - ‍RATE BASE WILL GROW TO REACH ABOUT $33 BILLION BY 2022​

* FORTIS INC - ‍ESTIMATED POWER PROJECT CONSTRUCTION COST IS $1.6 BILLION​

* FORTIS INC - ‍PROJECT WILL CONTRIBUTE TO FORTIS EARNINGS AND CASH FLOW UPON COMPLETION OF EACH PHASE OF PROJECT​

* FORTIS INC - INITIAL PHASE OF PROJECT EXPECTED TO BE COMPLETE BY END OF 2018

* FORTIS - ‍WATAYNIKANEYAP POWER PROJECT REACHED MILESTONE WITH FUNDING FRAMEWORK AMONG WATAYNIKANEYAP POWER, GOVERNMENT OF CANADA, GOVERNMENT OF ONTARIO​

* FORTIS INC - NEXT TWO PHASES TARGETED TO BE COMPLETED BY END OF 2020 AND 2023, RESPECTIVELY

* FORTIS INC - NEXT TWO PHASES SUBJECT TO RECEIPT OF ALL NECESSARY REGULATORY APPROVALS ANTICIPATED BY EARLY 2019 Source text for Eikon: Further company coverage:

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