Insituform Receives $17 Million (US) Sewer Rehabilitation Term Contracts in Hong Kong

Insituform Technologies Inc. (Nasdaq Global Select Market: INSU) announced  it has begun work on a $17 million (US) project for the Drainage Services Department, Hong Kong Special Administrative Region. Insituform was recently awarded two term contract renewals, which provide for the rehabilitation of wastewater pipelines located throughout the highly populated Central District and Mainland North District for three and five years, respectively.

It is expected that Insituform will install either Insituform Cured-in-Place Pipe (CIPP) or iPlus Composite on 4-in. to 84-in. diameter circular and box shape pipelines constructed of clay, concrete or brick. Some of these pipelines date back to the colonial years of Hong Kong

. iPlus Composite, Insituform’s premium fiber-reinforced CIPP solution, provides both added strength and stability and is ideal for medium- to large-diameter pipelines.

Daniel Cowan, Insituform Vice President, Asia-Pacific, said, “By securing these contracts, Insituform continues to maintain its market share and solidifies its presence in Asia. These contracts strengthen Insituform’s East Asian platform as we continue to expand our operations into other markets throughout the greater China region.”

Insituform has been rehabilitating pipelines in Hong Kong since 2005. William Wong, Insituform General Manager, Greater China, said, “We’re pleased to continue our rehabilitation efforts in Hong Kong. Our dedicated resources in this area have successfully managed Insituform’s previous term-contracts, which were valued at approximately $6 million (US).”