Sep 4 2010
Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) announced today that it has been awarded a contract with a first year value of $5.9 million (US) by the City of Calgary, Alberta, Canada. Upon completion of the first year’s work, the City will have the option of renewing this contract for two more years.
Calgary awarded the project based on price and contractor qualifications after receiving proposals from prime contractors, previously identified by the City.
“Insituform has successfully completed both wastewater and drinking water projects in Calgary since mid-1980s. This latest project will allow us to strengthen our relationship with Calgary as well as improve its underground infrastructure with minimal disruption to the community,” said Ken Foster, President, Insituform Technologies Limited, Canada.
Each year of the contract, Insituform expects to complete approximately 90,000 feet of cured-in-place pipe (CIPP) rehabilitation on wastewater pipelines ranging from 8-inches to 48-inches in diameter. It is expected that its crews will utilize Insituform’s proprietary air inversion steam cure installation method that reduces energy and water usage by approximately 95 percent.
Source: http://www.insituform.com/