Insituform Awarded US$27.0 Million Contract to Repair Wastewater and Stormwater Pipes for Sydney, Australia
Insituform Technologies Inc. (Nasdaq Global Select Market: INSU) recently announced that Sydney Water has awarded its Asia Pacific operation two contracts for small- and medium-diameter sewer and stormwater pipeline rehabilitation. The combined three-year term contracts are Insituform’s largest award in Australia to date and have a budgeted value of US$27 million, with the potential for additional work.
The awards are part of Sydney Water’s SewerFix Program, which is a three-year sewer rehabilitation program designed to protect public health and reduce the number of sewage overflows reaching the environment. Insituform’s US$27 million contract is a portion of the US$70 million award shared by three contractors.
During the next three years, Insituform will employ over 50 employees in the Sydney area. Insituform will also work with local subcontractors to complete these projects.
Insituform CIPP (cured-in-place pipe), Insituform’s core technology, and the iPlus Infusion lining system, Insituform’s next generation CIPP solution, will be used to rehabilitate pipelines in urban, coastal, national park and environmentally sensitive areas.
Sydney Water, Australia’s largest water utility covering over 12,700 sq km, provides drinking water, recycled water, wastewater services and stormwater services to more than 4 million people.
Daniel Gamboa, Insituform Pacific’s General Manager – Australia, said, “We have completed over 25 pipeline rehabilitation projects during the past two years in Australia and continue to expand our capabilities in this market as well as provide innovative solutions which were not previously available to our customers. We congratulate Sydney Water on their ambitious environmental and economic sewer rehabilitation program and look forward to working with them on these projects.”
“Over the past two years, we have delivered a diverse range of gravity and pressure pipe rehabilitation projects as a joint venture partner with VSL International Ltd. In order to expand our visibility in the Asia Pacific market, we have established Insituform Pacific Pty. Ltd. and Insituform Asia Ltd. as wholly owned subsidiaries of Insituform Technologies, Inc. We currently have operations in Australia, Hong Kong, Singapore and India and are excited about our growth opportunities,” remarked Daniel Cowan, Insituform’s Vice President – Asia/Pacific. Mr. Cowan relocated to Hong Kong earlier this year.
