WATSONVILLE, Calif., Nov 02, 2009 (BUSINESS WIRE) -- Granite Construction Incorporated (NYSE:GVA) today announced that Granite Construction Company has been awarded a $22.0 million contract by the Gila River Indian Community to construct the final phase of the new 8.5-mile Santan Canal located approximately 40 miles southeast of Phoenix.
The Santan Canal is part of the Gila River Indian Community's master plan to deliver 173,000 acre feet of water to farmlands within the Community. Through the Pima-Maricopa Irrigation Project (P-MIP), the Community's ultimate proposal is to design and construct a water delivery system that will potentially include 2,400 miles of canal and pipeline.
Scope of the project includes earthwork to construct the canal prism, concrete lining and the construction of thirty-five reinforced concrete structures. In addition, Granite will construct a reservoir and excavate approximately 344,000 cubic yards of borrow needed to complete the work. The reservoir will be open for community use once the project is completed.
Construction will begin this month with an estimated completion date December 2010.
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 more information about Granite, please visit their website at www.graniteconstruction.com.
SOURCE: Granite Construction Incorporated
Granite Construction Incorporated
Jacque Fourchy, 831-761-4714 (Investor)
Copyright Business Wire 2009