Tuesday, September 17, 2013

Water privatization contract for Dover Air Force Base awarded to a subsidiary of Middlesex Water Company

New Jersey-based Middlesex Water Company announced today in a news release that it has entered into an agreement through its subsidiary, Tidewater Utilities, Inc. with the U.S. Department of Defense for the privatization of the water system of Dover Air Force Base (DAFB) in Dover, Delaware.
Tidewater, also located in Dover, will provide DAFB with potable water service under a 50-year agreement. Tidewater intends to integrate the DAFB water system into its regulated utility operations, subject to Delaware Public Service Commission regulatory approval. Tidewater will own and maintain all DAFB water utility assets and make all necessary capital improvements to provide continued reliable utility service to the Base. Once implemented, the privatization is expected to be accretive to earnings immediately.
DAFB executes hundreds of missions throughout the world and provides 25 percent of the Nation's strategic airlift capability, projecting global reach to over 100 countries around the world. The Base operates the largest and busiest air freight terminal in the Department of Defense and is also home to the Air Mobility Command Museum, which welcomes thousands of visitors each year.
Middlesex Water Company, Tidewater's parent company, organized in 1897, is one of nine U.S. based publicly-traded investor-owned water and wastewater companies. The Company provides regulated and unregulated water and wastewater utility services in New Jersey, Delaware and Pennsylvania through various subsidiary companies. 

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