Update: The news conference has been cancelled. Updates to follow.

Ontario’s Minister of Transportation will be in Hamilton Monday afternoon to hold a news conference.

Sources tell CHCH News that Caroline Mulroney will reveal the previous Liberal government’s cost estimate for the LRT was off by billions of dollars.

Mulroney is set to speak at 2:30 p.m. at the Sheraton Hotel on King St. West.

The planned system would be a 14-kilometre rail line that runs from McMaster University through downtown Hamilton to Eastgate Square in Stoney Creek.

Construction on the LRT was supposed to begin this year and be completed by 2024 but has been delayed. Bid submissions are now expected in Spring 2020 with the winner being chosen later in the year. The city of Hamilton says three pre-qualified teams are currently preparing proposals that detail how they will deliver the project.

Back in 2014, the Liberal government estimated the cost to build the line would be $1 billion. It was to be funded through a $1-billion commitment from the province.

Metrolinx would be responsible for construction and long term maintenance costs while the city of Hamilton would manage the day to day operating costs once the LRT is in service.

A memorandum of agreement between the city and Metrolinx from March 8, 2016, states that Hamilton should not be responsible for any construction costs, even if the project goes over budget.

Back in May, some city councillors raised concerns regarding the cost of inflation on the project. More than $151 million has already been spent by Metrolinx including $75 million in property acquisition alone.

During a radio interview Monday morning, Mayor Fred Eisenberger said the province did not give him a heads up about today’s news conference. Eisenberger said he now fears the provincial government is going to kill the project.

We will be live streaming the news conference on our Facebook page.