May 1, 2008Insituform Technologies Inc. recently announced water and sewer projects in Hong Kong, totaling more than USD $13 million.
The majority of the work in Hong Kong is an Insituform Blue project representing the largest drinking water pipeline rehabilitation project for the company to date, with more than 30 km of water pipeline to be rehabbed under and around the famed Nathan Road in Kowloon, Hong Kong. Work began on this project on Jan. 20. Insituform also started work in November 2007 on two major three-year term cured-in-place pipe maintenance projects for Hong Kong’s Drainage Services Department.
Insituform has partnered in Hong Kong with VSL International Ltd. Together, they operate Insituform Asia Ltd., a 50-50 joint venture.
Insituform started 2008 with approximately USD $50 million in project backlogs in its newly formed joint venture operations in Hong Kong and India. The dramatic increase in these new and important markets for the company results from significant orders received in the fourth quarter of 2007. These successes are the product of the company’s focused efforts on the strategic expansion of international and drinking water markets.
“Our efforts to develop new products for the drinking water market are paying off in these growing markets,” said Alex Buehler, vice president of marketing and technology. “The company’s trenchless technology is perfect for the work in Hong Kong, one of the most densely populated cities on earth, where digging to rehabilitate water lines is not an option in many cases. The city has embarked on a large program to rehabilitate its aging drinking water system and Insituform’s new products meet this demand.”
“These new water projects as well as the international joint venture operations further the Company’s strategic objectives of international growth and expansion into the exciting potable water rehabilitation market,” stated Daniel Cowan, vice president of strategic business initiatives.