Artesian Water Company, Inc. announces closing on water system at Historic Fort DuPont
June 05 2017 - 08:00AM
Artesian Resources Corporation (NASDAQ:ARTNA) a leading provider of
water and wastewater services, and related services, on the
Delmarva Peninsula, announced on June 5, 2017, that its principal
subsidiary, Artesian Water Company, has closed on its purchase of
water assets in the Fort DuPont Historic District, New Castle
County, Delaware. This acquisition is the culmination of a
public-private partnership between Artesian, the Fort DuPont
Redevelopment and Preservation Corporation, and state and local
governments to redevelop and revitalize the 325-acre historic
waterfront community located on the Delaware River between the
Chesapeake and Delaware Canal and Delaware City.
The acquisition includes over $1.0 million of
investment for the purchase of the existing water treatment plant,
storage tank and water mains serving the Fort DuPont Historic
District. Artesian will make improvements to repair, replace and
modernize infrastructure providing potable water and fire
suppression services to current and future customers in this area.
The water system currently serves the Governor Bacon Health Center
and other state facilities in the surrounding area, including the
Delaware National Guard. Artesian will now be able to extend safe,
reliable and high-quality water service and fire protection to
future residents of the planned 600-unit residential community, as
well as many anticipated retailers and businesses.
“Artesian’s cooperative efforts with the Fort
DuPont Redevelopment and Preservation Corporation, Delaware City
and the State of Delaware on the revitalization of this historic
area exemplify the many benefits of robust public-private
partnerships between state and local governments, and partners in
the business community to address water infrastructure needs,” said
Dian C. Taylor, Chair, President and CEO of Artesian Resources.
Fort DuPont was actively used as a military base
from the Civil War through World War II to protect the cities and
ship building sites of Wilmington, Chester and Philadelphia.
Decommissioned and turned over to the State of Delaware in the
1940s, Fort DuPont has served as state surplus and more recently,
allured bird-watchers and cyclists for ecotourism and outdoor
recreation.
About Artesian
ResourcesArtesian Resources Corporation operates as a
holding company of wholly-owned subsidiaries offering water and
wastewater services, and related services, on the Delmarva
Peninsula. Artesian Water Company, the principal subsidiary,
is the oldest and largest regulated water utility on the Delmarva
Peninsula and has been providing water service since 1905.
Artesian supplies 7.6 billion gallons of water per year through
1,260 miles of water main to approximately 301,000 people.
Contact:
Nicki Taylor
Investor Relations
(302) 453-6900
ntaylor@artesianwater.com
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