Granite Construction Joint Venture Team Awarded $306 Million Highway Reconstruction Project in Washington
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite Construction Incorporated (NYSE: GVA) announced today that
Eastside Corridor Constructors (ECC), a joint venture team comprising
Granite Construction Company and PCL Construction Services, Inc., has
been awarded a $306 million contract by the Washington Department of
Transportation (WSDOT) to reconstruct and widen the existing State Route
520 in King County. Granite's share of the contract is 60 percent, or
approximately $184 million. Granite will book the project into backlog
during the fourth quarter of 2010.
Scope of the SR 520 Eastside Transit and HOV Project includes widening
and reconstructing portions of the existing highway from the Lake
Washington Floating Bridge to the Interstate 405 connector. Work will
also include constructing three landscaped bridges over SR 520, adding
HOV lanes, bus rapid transit stations, direct access ramps to surface
streets, and major retaining walls, sound walls, lighting, utility
relocations and landscaping. The Lake Washington Floating Bridge will be
converted to an electronic toll road with toll collection beginning in
the spring of 2011. Funds collected will be used toward part of the
construction costs and any future SR 520 improvements, operations and
ECC will also be responsible for significant environmental improvements
to increase drainage containment, improve fish habitat, and open
drainage systems to fish passage.
Construction is estimated to be complete by February 2014. For more
information, please visit WSDOT's website at www.wsdot.wa.gov/projects/sr520bridge.
Granite Construction Incorporated is a member of the S&P 400 Midcap
Index, the FTSE KLD 400 Social Index and the Russell 2000 Index. 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 its website at www.graniteconstruction.com.
Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
Source: Granite Construction Incorporated
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