TransCanada says it has received a signed permit from the U.S. Department of State giving the go-ahead to build the controversial Keystone XL pipeline.

Trump addressed the media on Friday morning about the decision to approve the pipeline.

"Today I am pleased to announce the approval of the presidential permit for the Keystone XL pipeline. TransCanada will finally be able to complete this long overdue project with efficiency and with speed. We're working out the final details as we speak. It's going to be an incredible pipeline, greatest technology known to man or woman and frankly we're very proud of it."

He also said that the project will pay dividends for the U.S. "It's a great day for American jobs and a historic moment for North America and energy independence. This announcement is part of a new era of American energy policy that will lower costs for American families."

Trump also blamed the previous government for delaying approval on the project. "Today, we begin to make things right and to do things right. Today, we take one more step to putting the jobs, wages and economic security of American citizens first."

Russ Girling, the president and CEO of TransCanada called the development a ‘significant milestone’ in the process.

"We greatly appreciate President Trump's Administration for reviewing and approving this important initiative and we look forward to working with them as we continue to invest in and strengthen North America's energy infrastructure," he said in a release.

Alberta Premier Rachel Notley was also glad to hear about the approval on the project that she says will create more jobs in the province.

"The project is going to support nearly 6,000 jobs during construction and over 400 full-time jobs in Alberta, while also providing access to new and exisiting U.S. markets." she said in a statement.

The approval comes ahead of the 60 day deadline set by President Donald Trump when he signed the executive order for Keystone shortly after taking office in January.

The 3,500 km pipeline running from Central Alberta all the way to the Texas coast has been hindered by many obstacles, including opposition from former President Barack Obama.

Even though the project has now been given the green light, that doesn’t mean it will be smooth sailing.

“There are still a lot of uncertainties, in terms of maybe it’s but what caveats are there, will it be American-made pipe, which they don’t have the capacity to make that pipeline to that specification, so we’ll see,” said Eric Nuttall with Sprott Asset Management.

The company also does not have deals with all of the landowners in Nebraska nor does it have a permit to build the pipeline in that state. TransCanada doesn't have a permit to build in South Dakota or Montana either.

Environmental groups have also vowed to fight the construction with protests and political pressure.

The federal government is happy with the U.S. approval of the project, with Natural Resources Minister Jim Carr saying that the news is obviously good.

A statement from his office was released on Friday morning, saying:

Our Government has always been supportive of the Keystone XL pipeline and we are pleased with the U.S. decision.

Keystone XL will create thousands of good, middle-class jobs for Canadians during construction.

Nothing is more essential to the American economy than access to a secure and reliable source of energy. Canada is that source.

This pipeline underscores that by helping the U.S. become more energy secure and achieve its goal of overall energy independence.

The importance of a common, continental energy market cannot be overstated‎.

However, Canada will still be seeking to build domestic pipelines that will allow Alberta crude to get to overseas markets.

Because of the need for state approvals, a construction date or estimated completion date for Keystone XL is still unknown.