Quasi-public agency invests in drinking water projects

August 12, 2018

PROVIDENCE, R.I. (AP) — A quasi-public agency says it’s investing more than $18 million in drinking water projects in Rhode Island.

The Rhode Island Infrastructure Bank said the financing is going to the city of Woonsocket, towns of Burrillville and Cumberland and the Providence Water Supply Board.

The agency says this will save about $1 million in interest expenses, compared to borrowing from other sources.

It says it has now invested more than $500 million in drinking water projects throughout Rhode Island.

Woonsocket is receiving $12.5 million to begin constructing a new drinking water treatment facility. Cumberland is getting $4 million for upgrades to its drinking water distribution system.

Providence Water is using $1 million to establish a loan program for customers to replace lead services lines. Burrillville is getting $700,000 for a water main upgrade.

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