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AMERICAN WATER WORKS COMPANY, INC.

(AWK)
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American Water Works : Kentucky American Water Investing $3 Million in Water Infrastructure ...

03/22/2021 | 01:03pm EDT

LEXINGTON, Ky., (March 22, 2021) - Kentucky American Water has started three water main improvement projects in Lexington in the Versailles Road and Castlewood Park areas. The projects involve upgrading approximately 3,000 linear feet of water main with new, ductile iron pipe and are expected to be completed by June 2021, depending on weather and other construction factors.

The projects, which will total approximately $3 million in investment, involve upgrading existing water mains and valves that are more than 70 years old. The company's qualified contractor, CJ Hughes Construction Company, will be working on Arceme Avenue, Carlisle Avenue, Devonia Avenue and Orion Avenue in the Castlewood area, and will be joined by another qualified contractor, Dix & Associates, to perform work in the Versailles Road area, which will include Delmont Drive, Halls Lane, Hill Rise Court, Hill Rise Drive, Hill View Place and Terrace View Drive.

The projects may result in minor traffic impact at times. For the safety of work crews, motorists and pedestrians in the area, Kentucky American Water encourages drivers and pedestrians to be extra cautious when in the vicinity of work zones.

These water main improvement projects are among approximately $8 million worth of efforts approved in 2020 by the Kentucky Public Service Commission for Kentucky American Water's new Qualified Infrastructure Program (QIP). The QIP enables the company to replace aging water system infrastructure at a quicker pace before it becomes potentially more problematic.

Kentucky American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately half a million people. For more information, visit www.kentuckyamwater.com and follow Kentucky American Water on Twitter and Facebook.

About American Water

With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 15 million people in 46 states. American Water provides safe, clean, affordable, and reliable water services to our customers to help make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook, and LinkedIn.

Disclaimer

American Water Works Co. Inc. published this content on 22 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2021 18:02:03 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 4 012 M - -
Net income 2021 772 M - -
Net Debt 2021 10 897 M - -
P/E ratio 2021 37,2x
Yield 2021 1,50%
Capitalization 28 589 M 28 589 M -
EV / Sales 2021 9,84x
EV / Sales 2022 9,47x
Nbr of Employees 7 000
Free-Float 96,7%
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Walter J. Lynch President, Chief Executive Officer & Director
M. Susan Hardwick Chief Financial Officer & Executive Vice President
Karl F. Kurz Independent Non-Executive Chairman
Adam W. Noble Chief Technology & Innovation Officer
Rebecca Losli Engineering Director