Churchill Falls - Financing the Project

Before the Churchill Project:

Prior to diversion, the waterfall at Churchill River was 75m (245 ft) which is 1½ times height of Niagara Falls.
Once all the dykes were in place, water flowed into low-lying areas of bog, muskeg, lakes and rivers were combined to form the Smallwood Reservoir. Unfortunately, ancient Innu burial grounds and portage routes were submerged during the flooding.

Financial:

The project's total cost was $946 million. Over the five years more than 180 construction and service contracts were signed with the largest single contract worth $75 million.
Money was raised through various means with the majority being raised through bonds. A $500 million bond issue in the US was the largest private placement and largest corporate new issue ever handled on Wall Street.
$650 million of the $665 million construction expenses were spent in Canada.
At the time of construction, it was the largest Canadian construction project undertaken.
At the time of completion, it was the largest civil project undertaken in North America.
Fuel, transportation, worker accommodations and catered food were supplied to contractors by Churchill Falls Labrador Corporation (CFLCo) which eliminated the uncertainty of cost and delivery of these commodities.