Water Company Receives $9,528,496 in Water Bank Loans. Estimated Savings to ratepayers of $4,484,049

NJ I-Bank and NJDEP Helping to Improve New Jersey's Infrastructure, One Project at a Time

The Middlesex Water Company recently completed drinking water improvements that are being funded with approximately $9.5 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Total savings for this project are estimated to be $4.5 Million over the 30-year term of the loan or 47% of the total project cost. In addition, this project created an estimated 114 direct construction jobs.  

The project included the replacement of approximately 5.6 miles of cast iron mains with cement mortar lined ductile iron pipe to inhibit the corrosive effects on the piping systems. More than 550 service lines were also replaced and  a similar number of meter pits and associated valves and appurtenances were installed. The project area encompasses the vicinities of Madison Drive, Hamilton Boulevard, and Samson, Lane and Maple Avenues within the Borough of South Plainfield.  

According to Matthew Anesh, Mayor of the Borough of South Plainfield, "The Middlesex Water Company is committed to investing in our utility infrastructure. In addition to enhancing the integrity of their service, these upgrades contribute to the overall sustainability and economic vitality of the municipalities they serve. This project reflects a commitment to efficiency which benefits their ratepayers by saving them money over time." 

This project was designed by in-house engineering and Gannet Fleming. It was constructed by J.F. Kiely Construction Company. 

For more information, contact the New Jersey Infrastructure Bank at (609) 219-8600.

Like us on Facebook and connect with us on LinkedIn.