Dakota Access pipeline construction company Energy Transfer Partners is set to submit a $4.6 billion bid for the 1,172-mile Dakota Access oil pipeline in North Dakota.
A formal bid is expected by the end of the week, but it could change before then, according to a report by Bloomberg.
Energy Transfer Partners said Monday that it is “actively exploring” options to build the pipeline in the U.S. and is looking for a “favorable regulatory environment.”
The pipeline is expected to go through three states: South Dakota, Nebraska and Iowa.
Energy Transitions, the company behind the pipeline, is the largest private landowner in North America, according the Energy Department.
The company has said that the pipeline will provide jobs for more than 9,000 construction and support workers and that it will increase the amount of water available to Lake Oahe, which provides drinking water for the entire state of North Dakota and the Dakotas.
The Associated Press contributed to this report.