Replacing aging and leaking water pipes comprised two-thirds of the costs for infrastructure improvements this year by the New Jersey unit of the second-largest publicly traded water utility in the U.S.
About $8 million of the $12 million spent in the 2013 capital program “was used to replace approximately 9 miles of old water pipe throughout the state,” the president of Aqua America Inc. (WTR)’s New Jersey subsidiary, Nicholas Asselta, said.
According to the Environmental Protection Agency’s fifth Drinking Water Infrastructure Needs survey, almost two-thirds of the U.S.’s $384 billion of water-related investments needed in the next 20 years would be to replace and modernize old pipes, treatment plants and water systems, the company said yesterday.
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