Granite Receives Full Notice to Proceed for Houston Light Rail Project
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite Construction Incorporated (NYSE:GVA) announced today that in
conjunction with the execution of the Full Funding Grant Agreement, the
Houston Rapid Transit Joint Venture team ("HRT"), has received full
notice to proceed ("NTP") on the $1.2 billion contract from the
Metropolitan Transit Authority of Harris County for expansion of the
existing light rail transit system in Houston, Texas. HRT was awarded
the design/build contract in 2009. The company will book its 34 percent
share of the additional NTP, or approximately $242 million, into backlog
in the fourth quarter of 2011.
Led by Parsons Transportation Group, Inc., HRT includes Granite
Construction Company, Kiewit Texas Construction L.P. and Stacy and
Witbeck, Inc. The team is responsible for expanding the existing light
rail transit system in three new corridors in downtown Houston totaling
an additional 15 miles of light rail transit. Scope of the work includes
24 stations, storage and inspection facilities and a major renovation to
the existing Rail Operations Center. Construction began with issuance of
the original NTP in July of 2010 and the project is scheduled to be
completed in 2014.
For more information on the project, please visit the METRO website at www.ridemetro.org.
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.
In 2011, the Company was named one of the World's Most Ethical
Companies. For more information about Granite, please visit its website
at graniteconstruction.com.
Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
Source: Granite Construction Incorporated
News Provided by Acquire Media
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