WATSONVILLE, Calif., Nov 18, 2008 (BUSINESS WIRE) --
Granite Construction Incorporated (NYSE:GVA) today announced that Granite Construction Company, a wholly-owned subsidiary, was awarded a $43 million contract by the California Department of Transportation (Caltrans) to reconstruct approximately five miles of Interstate 80 through the Truckee River Canyon, located approximately 20 miles west of Reno, Nevada. This is the most recent of two awards by Caltrans to Granite for work on I-80.
The project includes approximately 80,000 cubic yards of concrete paving removal and replacement. Work also includes drainage improvements, barrier rails and asphalt paving running the length of the project from Floriston, California to the California-Nevada state line.
Construction is anticipated to begin in May 2009 with an estimated completion date of September 2011.
Granite Construction Incorporated is a member of the S&P 400 Midcap Index, the Domini 400 Social Index and the Russell 2000. Granite Construction Company, a wholly owned subsidiary, is one of the nation's largest diversified heavy civil contractors and construction materials producers. Granite Construction Company serves public and private sector clients through its offices and subsidiaries nationwide. For the 5th straight year, Granite was named to FORTUNE'S List of 100 Best Companies to Work For. For more information about Granite, please visit their website at www.graniteconstruction.com.
SOURCE: Granite Construction Incorporated
Granite Construction Incorporated
Jacque Fourchy, 831-761-4714 (Investors)
Copyright Business Wire 2008
News Provided by COMTEX