American Water Awarded New Contract For Hill Air Force Base, Utah

American Water Works Company, Inc. (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, today announced that its Military Services Group has been awarded a contract for ownership, operation and maintenance of the water and the wastewater systems at Hill Air Force Base, Utah. According to the agreement the award is estimated at approximately $288 million over a 50-year period. The contract will be subject to annual economic price adjustment.

"American Water is extremely pleased to be awarded this contract and we look forward to serving the military community at Hill Air Force Base,” said Jeff Sterba, president and CEO of American Water. “We will now be serving ten installations across the country and are committed to providing our servicemen and women and their families with reliable, high quality water and wastewater services for the next five decades and beyond.”

American Water's Military Services Group, which is reported as part of American Water’s Contract Operations Group, also operates and maintains the water and/or wastewater assets at Fort A.P. Hill, Va., Fort Sill, Okla., Fort Leavenworth, Kan., Scott Air Force Base, Ill., Fort Rucker, Ala., Fort Meade, Md., Fort Belvoir, Va., Fort Hood, Texas and Fort Polk, La.

“Our Military Services Group’s growing portfolio clearly demonstrates our commitment to providing military bases with solutions to best manage their systems. We are particularly delighted to add a second Air Force installation to our program,” said Jimmy Sheridan, president of the Military Services Group.

The Military Services Group of American Water provides water and wastewater services to military installations across the country as part of the federal government’s Utilities Privatization Program.

Hill Air Force Base has grown significantly over the years and currently serves a population of approximately 25,000. The 13,500-foot runway accommodates any aircraft in the Air Force inventory. In a typical year, locally based and transient aircraft will log more than 50,000 takeoffs and landings.

If you liked this article you might like

Gender Diversity in the Boardroom

Five S&P 500 Boards Have No Women as Gender Balance Growth Stalls

Southwest, Hawaiian Holdings, Nucor, and American Water Works: 'Mad Money' Lightning Round

Domino Effect of Falling Oil Prices: Cramer's 'Mad Money' Recap (Thursday 4/27/17)