Granite Awarded $441 Million Joint Venture Design-Build Transit Project in Washington D.C.

Released: 07.31.17 Back

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that the joint venture team comprised of Granite Construction Company and Archer Western has been awarded the South Capitol Street Corridor Phase 1 design-build contract by the District of Columbia Department of Transportation. Granite will book its 50% share of the $441 million joint venture project into backlog during the second quarter of 2017.

The joint venture team will be responsible for the replacement of the existing Frederick Douglass Memorial Bridge over the Anacostia River in Washington, D.C. The scope of work includes the construction of two new approach ovals and the reconstruction of a portion of I-295 adjacent to the new bridge. When complete, the bridge will have six lanes, and improved bicycle and pedestrian facilities.

The project is designed to transform South Capitol Street into a scenic boulevard with increased pedestrian and vehicular safety, multimodal transportation options, community accessibility and support economic development consistent with overall the Anacostia Waterfront Initiative.

Construction is scheduled to begin in July 2017 and conclude in December 2021.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE:GVA) is one of the nation’s largest infrastructure contractors and construction materials producers. Granite specializes in complex infrastructure projects, including transportation, industrial and federal contracting, and is a proven leader in alternative procurement project delivery. Granite is an award-winning firm in safety, quality and environmental stewardship, and has been honored as one of the World’s Most Ethical Companies by Ethisphere Institute for eight consecutive years. Granite is listed on the New York Stock Exchange and is part of the S&P MidCap 400 Index, the MSCI KLD 400 Social Index and the Russell 2000 Index. For more information, visit graniteconstruction.com.

Granite Construction Incorporated
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Jacque Fourchy, 831-761-4741
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Ronald Botoff, 831-728-7532

Source: Granite Construction Incorporated