WATSONVILLE, Calif., May 17, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Granite Construction Incorporated (NYSE: GVA) announced today that Granite Construction Company, a wholly owned subsidiary, in a joint venture with Archer Western Contractors of Atlanta, Georgia, has completed the first phase of the reconstruction of the Bay St. Louis bridge in Mississippi.
The original US 90 Highway bridge collapsed into the bay when Hurricane Katrina struck the Gulf coast. Before the storm, approximately 20,000 vehicles traveled the bridge daily.
The scope of the project involves the removal of the damaged structure, as well as the design and reconstruction of the new four-lane bridge. The new bridge is the first design-build project that the Mississippi Department of Transportation (MDOT) has ever constructed in the state.
The Granite Archer Western joint venture team built 1.9 miles of bridge over water in 10.5 months, qualifying for the MDOT Milestone 1 schedule deadline incentive payment of $5 million. The project began in February 2006 and the first two lanes opened today.
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 serves public and private sector clients through its offices nationwide. For the 4th straight year, Granite was named to FORTUNE'S List of 100 Best Companies to Work For. For more information about the company, please visit their website at www.graniteconstruction.com.
SOURCE Granite Construction Incorporated
Jacque Underdown of Granite Construction Incorporated, +1-831-761-4741
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