February 28, 2017 — Globe Newswire — Artesian Resources Corporation (NASDAQ:ARTNA), a leading provider of water, wastewater services and related services on the Delmarva Peninsula, today announced that it has entered into an agreement with the Fort DuPont Redevelopment and Preservation Corporation, or FDRPC, for the purchase of existing water assets and for the provision of potable water and fire suppression services.
The Fort DuPont National Historic District, or Fort DuPont, consists of 325 acres and lies between the Delaware River on the east, the Chesapeake and Delaware Canal on the south and the Delaware City Branch Canal. The purchase includes a water treatment plant, a storage tank, mains, and other equipment used to provide potable water and fire suppression services to portions of Fort DuPont and surrounding properties. Artesian and Fort DuPont intend to design, build and operate a state of the art, cost effective, safe and reliable water system that will include both new water assets as well as improvements and upgrades to the existing water assets. The water system can be expanded to meet the needs of the planned 600 unit residential community as well as retail development, in addition to water service currently provided to the Governor Bacon Health Center and National Guard facilities.
