The Globe and Mail reports in its Saturday edition on Thursday Enbridge ($47) secured approval for the $9-billion Line 3 pipeline replacement in a unanimous decision by Minnesota's Public Utilities Commission. The Globe's Jeff Lewis writes that Line 3 is by far the biggest and most expensive in Enbridge's $22-billion project backlog, but its uncertain fate had thrown into doubt the company's ability to generate cash and sustain rising dividend payments. First Asset Management's Manash Goswami says those fears are starting to ebb. Enbridge agreed earlier this year to buy out four of its publicly listed subsidiaries in an $11.4-billion restructuring. Mr. Goswami notes Enbridge has also notched $3.2-billion in asset sales, eclipsing its target for the year and easing concerns about debt. The stock has climbed about 25 per cent from a nadir hit only two months ago. Mr. Goswami says: "It's a really big deal. When you think about where the stock was in April, it was trading below $38. And there were really three things that people were talking about, the first being this project and whether or not it will get approved. This is the last thing we wanted to see fall in line."