If any person, association or corporation having acquired right of way or site for any canal, ditch, conduit, reservoir or other works for diverting, collecting, conveying, storing or supplying water for industrial uses shall abandon such works, or cease for a period of two years to occupy, utilize and operate the same for the purposes for which such right of way or site was obtained, without due and sufficient cause and reason for such cessation of use, such right of way or site shall cease, and such person, association or corporation shall be deemed to have wholly abandoned the same, and all right, title and interest in and to the lands theretofore so occupied and used shall revert to and vest in the owners at the time of such reversion of the several tracts and parcels of land of which the lands embraced in such right of way or site formerly constituted a part.