WATSONVILLE, Calif., Jul 01, 2010 (BUSINESS WIRE) -- Granite Construction Incorporated (NYSE:GVA) announced today that the Copper Hills Constructors ("CHC") joint venture team has been awarded a $106 million construction management/general contractor ("CM/GC") contract by the Utah Department of Transportation ("UDOT") to build the new Mountain View Corridor freeway, transit and trail system in and around Salt Lake County. Granite's share of the contract is 45 percent, or approximately $47.7 million. Granite will book the project into backlog during the second quarter of 2010.
Led by Granite, CHC includes Kiewit and W.W. Clyde. The team is responsible for the construction of nine miles of a two-lane road between Redwood and Old Bingham Highway. All nine miles will be asphalt paved in a frontage road alignment. Work will include signalized intersections, recreational trails, drainage improvements, and new structures.
CHC was awarded the construction management ("CM") portion of the contract in the fall of 2009 and has been working closely with UDOT and the project designers throughout the design, constructability and cost estimating phases. CHC is currently working with UDOT and the project designers in a CM capacity for an additional general contractor ("GC") package.
Some initial early work is already underway and will be completed in December 2010. The current GC contract is estimated to be completed by the fall of 2012. For more information, please visit UDOT's Web site at www.udot.utah.gov/mountainview.
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 Web site at www.graniteconstruction.com.
SOURCE: Granite Construction Incorporated
Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
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