This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Pennsylvania American Water Announces $16.5 Million Investment To Construct And Rehab Water Storage Tanks

Stocks in this article: AWK

Pennsylvania American Water unveiled today its 2013 construction schedule to build nine new water storage tanks, as well as rehabilitate 14 existing tanks throughout the commonwealth. The new tank construction will provide increased storage capacity to meet customer demand and improve fire protection, while the company’s rehab program of inspecting, sandblasting and repainting the existing tanks will extend their service life and protect water quality.

The estimated cost of the new tank construction is $11.5 million, and the rehab projects total approximately $5 million for a combined capital investment of nearly $16.5 million.

“Storage tanks are a critical component of our water infrastructure, because they ensure that adequate, reliable water supplies are always available for the communities we serve,” said President Kathy L. Pape of Pennsylvania American Water, noting that the company currently owns and maintains more than 275 storage structures. “The new tanks we’re building are necessary to meet customer demands for reliable water service and fire protection.”

New tank construction is planned in the following communities:

  • North Annville Township, Lebanon County - 750,000-gallon concrete tank, scheduled for completion by fall. Estimated cost $1.4 million
  • Susquehanna Depot Borough, Susquehanna County – 680,000-gallon concrete tank, scheduled for completion by year end. Estimated cost $2.5 million
  • Pittston Township, Luzerne County – 1,000,000-gallon steel tank, scheduled for completion by year end. Estimated cost $1.35 million
  • Newton Township, Lackawanna County – 400,000-gallon elevated steel tank, scheduled for completion by year end. Estimated Cost $1.6 million.
  • Kane Borough, McKeon County - 600,000-gallon elevated steel tank, scheduled for completion by year end. Estimated cost $1.7 million
  • Delaware Township (Hickory), Pike County - 100,000-gallon steel tank, scheduled for completion by year end. Estimated cost $490,000
  • Delaware Township (Silver), Pike County - 135,000-gallon steel tank, scheduled for completion by year end. Estimated cost $500,000
  • East Buffalo Township, Union County - 500,000-gallon elevated steel tank, scheduled for completion by year end. Estimated cost $ 1.75 million.
  • Ellwood City, Lawrence County - 200,000-gallon standpipe to supplement existing tank, scheduled for completion in third quarter 2013. Estimated cost $250,000.

Pape said, “Our rehabilitation projects not only extend the tanks’ lifespan, but they also represent a significant cost savings in contrast to replacing the structures.” Pennsylvania American Water will rehabilitate existing tanks in the following areas over the next several months:

  • Green Tree Borough, Allegheny County – 2.5 million-gallon capacity elevated tank
  • Liberty Borough, Allegheny County – 560,000-gallon capacity tank
  • South Union Township, Fayette County - 500,000-gallon capacity Hopwood Tank
  • Connoquenessing Township, Butler County – 250,000-gallon capacity elevated tank
  • South Fayette Township, Allegheny County – 1.5 million-gallon capacity Mayview Tank North and 1.5 million-gallon capacity Mayview Tank South
  • Lower Makefield Township, Bucks County – 1 million-gallon capacity Big Oak Tank
  • Limerick Township, Montgomery County – 1 million-gallon capacity tank
  • Pen Argyl Borough, Northampton County – 500,000-gallon capacity tank
  • Pittston Township, Luzerne County –, 250,000-gallon capacity Vogelbacher Tank #2
  • Montrose Borough, Susquehanna County – 380,000-gallon capacity tank
  • Scranton, Lackawanna County – 1.9 million-gallon capacity Williams Bridge (Oakmont) Tank
  • Fell Township, Lackawanna County – 750,000-gallon capacity Fallbrook Tank,
  • Scranton, Lackawanna County – 2.5 million-gallon capacity Lake Scranton South Tank

The two South Fayette Township tanks in the Pittsburgh area were previously owned by Mayview State Hospital and recently acquired by Pennsylvania American Water to increase its system’s storage capacity by 3 million gallons. This increased capacity provides redundancy in the water system to avoid service interruptions in South Hills communities, as well as improve storage capacity for fire protection.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs