Middlesex to Take Over Water System at Biggest U.S. Air Hub
Stock Chart for Middlesex Water Co (MSEX)
Middlesex Water Co. (MSEX) was awarded a privatization contract to take over water operations at the U.S. Department of Defense’s largest air-freight hub, at Dover Air Force Base, Delaware, under a 50-year agreement.
The 116-year-old water and wastewater provider’s Dover-based Tidewater Utilities unit will own and operate all water-related assets at the base, according to a statement today from Iselin, New Jersey-based Middlesex. Terms weren’t disclosed.
“This agreement expands Middlesex Water’s suite of services to include military base operations and further expands our privatization efforts,” Bernadette Sohler, a Middlesex spokeswoman, said in an e-mail today.
The privatization deal, after it’s approved by the Delaware Public Service Commission and implemented, is expected to be accretive to the company’s earnings immediately.
The base has more than 11,000 military personnel and family members, according to its website.
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