Funding was the subject of private meetings in Calgary between Fred Carmichael and unnamed parties this week.

"We are looking at other options at this time. We're making good progress, and we hope to have an announcement sometime between the middle of January and the end of January that we have been successful in obtaining our financing to proceed with the pipeline.

"We're going to do it," he said. As soon as "the deal is completed" Carmichael said the people of the Northwest Territories will know.

The APG has been scrambling to find alternative funding sources since Natural Resources Minister Herb Dhaliwal said the federal government would not provide a loan guarantee for the pipeline group. Now Carmichael's outlook for 2003 is "very positive." He said he is confident construction of the pipeline will finally go ahead.

The entire project is expected to cost $4 billion. Carmichael said the APG needs $70 million for the project development phase and $300 million is required for the APG's equity share.

"And I don't see any problem raising that," he said.

"We're finally going to be able to create a lot of jobs and business opportunities for our people.

"I have a feeling 2003 is going to be a good year for all Northerners," he said.