February 1, 2009Insituform Technologies Inc. (Nasdaq Global Select Market: INSU) recently announced that it was awarded an additional $13.3 million in sewer pipe rehabilitation work in the Atlanta area, as well as $4.4 million project in British Columbia, Canada.
Insituform was recently awarded two new contracts with the City of Atlanta in the amounts of $4.8 million, through its joint venture with Metals & Materials Engineers LLC., and $4.5 million, through its joint venture with Imani Environmental Group Inc., respectively. Insituform expects to perform approximately 65,000 ft of small-diameter sanitary sewer lining work under these contracts. Work on these projects is under way and should be completed in September and October 2009, respectively.
In addition, Insituform estimates that an additional $4 million in medium- and large-diameter sanitary sewer lining work will be released under its annual term contract with Dekalb County, Ga., during 2009. The company will use its Insituform cured-in-place-pipe (CIPP) technology for each of these projects.
The City of Atlanta contracts are a part of the “Clean Water Atlanta” program created by the City in 2002. Clean Water Atlanta is the City’s comprehensive, long-term plan to ensure clean drinking water for Atlanta and clean streams and clean wastewater flows for Atlanta and its downstream neighbors.
Also, its Canadian subsidiary, Insituform Technologies Ltd., has been awarded a $4.4 million contract from the City of Victoria in British Columbia, Canada. Insituform will rehabilitate 14,750 ft of high-pressure steel pipes, ranging in diameter from 8 to 24 in. Insituform will complete the work in the City of Victoria in 26 installations, rehabilitating 13,900 ft of 20 in., 550 ft of 24 in. and 300 ft of 8 in. water lines.
Work began in late November and is expected to be completed in August 2009.