Middlesex Water Company Launches $160 Million Infrastructure Effort
March 21 2017 - 12:47PM
Middlesex Water Company (NASDAQ:MSEX) today announced a major
infrastructure campaign to enhance safety, reliability and
resiliency throughout its water system in New Jersey. The campaign,
Water For Tomorrow®, involves numerous projects designed to upgrade
and replace infrastructure and enhance the integrity of system
assets to better serve the current and future generations of water
users. Middlesex plans to invest $160 million through 2018 in
connection with this plan. The Middlesex system in New Jersey
provides retail, commercial and industrial water services to 61,000
homes and businesses in Carteret, Edison, Metuchen, South Amboy,
South Plainfield and Woodbridge.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/a555db19-d92c-420c-90dd-338837971eaf.
Water For Tomorrow projects include:
- Construction of a 42”, 4.6 mile water transmission pipeline to
provide critical resiliency and redundancy capability to the
Company’s water transmission system.
- Replacement of five miles of water mains including service
lines, valves, fire hydrants and meters in the Borough of South
Plainfield, NJ
- Introduction of an enhanced treatment process at the Company’s
largest water plant in Edison, NJ, which helps reduce disinfection
by-products that can develop naturally during treatment
- Additional elevated storage tanks to supplement and ensure
water supply during emergencies and peak usage periods
- Upgrades and improvements to water interconnections with
neighboring utilities for resiliency and emergency response
- Relocation of meters from inside customers’ premises to
exterior meter pits to allow quicker access by crews in emergencies
as well as enhanced customer safety and convenience
- Additional standby power generation.
This long-planned capital program follows the recent release of
an Infrastructure Report Card issued by the American Society of
Civil Engineers (ASCE), which rated the state of our country’s
water infrastructure a D+ and urged a wakeup call attending to the
condition of America’s drinking water.
“Working to ensure sustained quality service across generations
is a major part of our responsibility as a steward of a precious
natural resource that is critical to economic stability, as well as
to life itself. This responsibility requires that we make smart,
proactive capital investments,” said Dennis W. Doll, Middlesex
Water Chairman, President and CEO. “The projects encompassed
in the Water For Tomorrow campaign are all based on rigorous asset
management evaluations. They are a natural extension of the
diligence we have applied over many years to make prudent
investments to bolster our water delivery network, enhance system
pressures and storage, provide critical back up supplies, reduce
lost water, and enhance the safety of our water treatment process,”
added Doll.
Information and updates about the Water For Tomorrow program can
be found on www.middlesexwater.com.
Middlesex Water Company is observing its 120th year as a water
provider in 2017. The Company provides regulated and
unregulated water and wastewater utility services in New Jersey,
Delaware and Pennsylvania through various subsidiary
companies.
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, among others, our long-term strategy and expectations,
the status of our acquisition program, the impact of our
acquisitions, the impact of current and projected rate requests and
the impact of our capital program on our environmental compliance.
There are important factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements including: general economic business
conditions, unfavorable weather conditions, the success of certain
cost containment initiatives, changes in regulations or regulatory
treatment, availability and the cost of capital, the success of
growth initiatives and other factors discussed in our filings with
the Securities and Exchange Commission.
Contact:
Bernadette Sohler, Vice President – Corporate Affairs
Middlesex Water Company,
1500 Ronson Road
Iselin, New Jersey 08830
(732) 638-7549
www.middlesexwater.com
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