Pennsylvania American Water Awarded Two PENNVEST Loans to Expand Water Service in Washington County
2024年7月26日 - 9:39PM
ビジネスワイヤ(英語)
The Shapiro administration recently announced that Pennsylvania
American Water was awarded low-interest financing from the
Pennsylvania Infrastructure Investment Authority (PENNVEST), for
two water main extension projects in Washington County totaling
$15.5 million. The loans will enable the company to bring safe,
reliable public water service and increased fire protection
capabilities to nearly 60 homes, a public school district and a
fire department.
“We’re thankful to PENNVEST for approving our loan request, as
this financing will enable us to extend water mains to residents
now living without adequate access to public water service," said
Pennsylvania American Water Vice President of Engineering Bruce
Aiton. “At Pennsylvania American Water, we strive to provide our
customers with high-quality, reliable water service, and these
PENNVEST-supported projects will enable us to achieve that goal in
new communities that can truly benefit.”
One PENNVEST loan of $10.4 million will support the installation
of approximately 6.5 miles of new water main along Avella Road
(SR50) to extend water service to several Washington County
communities in Cross Creek, Independence and Mount Pleasant
townships as well as the Avella Area School District. The project
will provide the opportunity for roughly 35 new customer
connections and increase water pressure to enhance Avella Fire
Department’s fire protection capabilities.
The second loan, totaling $5.1 million, will be used to install
approximately three miles of new water main along Old Steubenville
Pike and Campbell Road to extend water service to Robinson and
Smith townships. This project will provide the opportunity for
approximately 23 new customer connections that currently rely on
private well water, offering benefits of improved water quality and
pressure.
“The Shapiro Administration strives to safeguard every
Pennsylvanian's right to the basic necessity of clean water.
Ensuring the reliability of our water infrastructure is critical
for the health of our communities. Now is the time to address clean
water infrastructure," said PENNVEST Chairman Dr. Brian Regli in
the Commonwealth’s official announcement. “Through the support of
federal funding provided by the Infrastructure Investment and Jobs
Act, this is a once in a generational opportunity to access funding
for projects throughout Pennsylvania."
The terms of both PENNVEST loans are 1.743 percent interest for
the first five years and 2.179 percent for the balance of the
20-year loan period.
About American Water
American Water (NYSE: AWK) is the largest regulated water and
wastewater utility company in the United States. With a history
dating back to 1886, We Keep Life Flowing® by providing safe,
clean, reliable and affordable drinking water and wastewater
services to more than 14 million people with regulated operations
in 14 states and on 18 military installations. American Water’s
6,500 talented professionals leverage their significant expertise
and the company’s national size and scale to achieve excellent
outcomes for the benefit of customers, employees, investors and
other stakeholders.
For more information, visit amwater.com and join American Water
on LinkedIn, Facebook, X and Instagram.
About Pennsylvania American Water
Pennsylvania American Water, a subsidiary of American Water, is
the largest regulated water utility in the state, providing
high-quality and reliable water and wastewater services to
approximately 2.3 million people.
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version on businesswire.com: https://www.businesswire.com/news/home/20240726384995/en/
Media: David Misner Senior Manager, External
Communications 717-262-7525 david.misner@amwater.com
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