Granite Construction Joint Venture Team Awarded $72 Million Highway Improvement Project in California
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite Construction Incorporated (NYSE:GVA) announced today that
Granite Construction Company and MCM Construction, Inc. have been
awarded a $72 million contract by the California Department of
Transportation to reconstruct and widen the existing State Route 101 in
Monterey County. Granite's share of the contract is 67 percent, or
approximately $48 million. Granite will book the project into backlog
during the first quarter of 2011.
Scope of the project includes rehabilitating and elevating a portion of
State Route 101 from Espinosa Road to Echo Valley Road just north of
Salinas. The joint venture team will be responsible for excavation of
the existing road, repaving with asphalt concrete, and installation of
storm drains. The contract also calls for the establishment of retaining
walls and fabrication of seven bridges.
Construction is estimated to begin in the spring of 2011 and be
completed by the fall of 2013.
About Granite
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.
For Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
Source: Granite Construction Incorporated
News Provided by Acquire Media
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