waross, you shouldn't be giving false hope. ;-)
It is far better to assume that the conduits will bring water into the building and deal with that then it is to assume that there is a way of preventing water from entering in the first place.
One project I did, I installed the medium voltage service equipment 3 floors below grade (generally not allowed by the utility), but arranged the installation such that the conduits entered pits below the gear, and provided drains for the pits. Beyond that water would have had to get at least 3 inches above floor level to begin to be a problem (secondary connections to the MV breakers, power connections much higher), and I had 30 or 40,000 sf of parking garage to absorb that water, assuming the sump pumps failed.
Again, far better to assume water in the conduits, regardless of any measures taken to slow down that water, than to assume that water can be kept out of the conduits.