• Two sewer rehab contracts combine for largest municipal sewer project in company's history
CHESTERFIELD, MO, Dec. 14, 2007 -- Insituform Technologies Inc. has won two sewer rehabilitation contracts in Delhi, India, totaling $35.1 million, creating the largest municipal sewer project in the company's history.
The Delhi Jal Board (DJB) awarded the contracts to Insituform's India joint venture on Nov. 28, 2007 as part of the city's three-year plan to spend approximately $1 billion to rehabilitate a sewer system that serves a population of almost 14 million people. Insituform anticipates participating with DJB on additional projects as the process continues.
Combined, the contracts involve rehabilitating 13,830 meters (8.57 miles) of large-diameter sewer lines:
• 6,790 meters (4.2 miles) valued at $17.5 million (68.86 Indian crowes).
• 7,040 meters (4.37 miles) valued at $17.6 million (68.85 Indian crowes).
The work will begin in January 2008 and must be completed by January 2010.
"These two projects constitute a tremendous step forward for Delhi in the modernization of its sewer system, and we're thrilled to participate in this vital process that will contribute positively to public health," said Daniel E. Cowan, Sr., Insituform's Vice President of Strategic Business Initiatives.
"As the largest project we have undertaken thus far -- in North America or internationally -- this award significantly advances Insituform's strategic plan for expanding our geographic footprint. Insituform is committing substantial resources to this strategic imperative addressing drinking water as well as wastewater. We have recently opened our Asia-Pacific headquarters in Singapore. We have assigned key executives across the Asia-Pacific region to ensure that we deliver the trenchless technologies that meet the region's drinking water and sewer infrastructure needs and challenges."
Insituform is currently performing its first large-diameter sewer rehabilitation project in India for the New Delhi Municipal Council. The company will begin the DJB project immediately upon completion of the New Delhi Municipal project. Insituform has partnered with Subhash Projects & Marketing Ltd. (Bombay Stock Exchange: SUBH) -- one of India's largest water, waste, and power infrastructure companies -- to complete the New Delhi Municipal project and the DJB projects and to implement the company's plans to expand throughout India.
Insituform Technologies Inc. is a leading worldwide provider of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems without digging or disruption.
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