American Water Unit To Invest $3.6M In Infrastructure Upgrade
Zacks Investment Research | Dec 08, 2016 09:54PM ET
American Water Works Company (NYSE:AWK) announced that its subsidiary, New Jersey American Water has decided to invest nearly $3.6 million over the next few months in water infrastructure improvement projects in North Plainfield and Green Brook Township.
The infrastructure upgrade has already begun. New Jersey American Water will replace service lines from the mains and install meter pits at the curb area of each property along the route. Work is expected to be complete in spring 2017.
The American Water Works subsidiary will be involved in cleaning and lining water mains in order to increase the efficiency of the water mains and extend the pipelines’ life.
Upgrade of Infrastructure
American Water Works is investing consistently to improve and expand infrastructure. The company aims to invest $6.4 billion in the 2016–2020 time frame, which will boost its earnings by 7% to 10% per year during this period.
For 2016, American Water Works has allocated $1.4–$1.5 billion for improving its water and wastewater systems, and the ongoing investments by its subsidiaries are part of its long-term plans of upgrading and replacing old pipelines. Last month, New Jersey American Water announced various plans to invest a total of nearly $17.4 million in pipeline replacement and upgradation of the existing system.
Last week too, the unit announced plans to invest nearly $1.6 million of new water mains in Stuyvesant Avenue from Chestnut Street to Vauxhall Road in Union. (Read more:Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.