Granite Awarded $76 Million Joint-Venture Bridge Replacement Project in Colorado

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that it has been awarded a $76 million joint venture contract with Ralph L. Wadsworth Construction Company by the Colorado Department of Transportation to replace the Grand Avenue bridge in Glenwood Springs, Colorado. Granite’s portion of the contract is 51 percent. As consolidating partner, the total contract award of $76 million was booked into Granite’s fourth quarter 2015 backlog.

The joint venture construction management/general contractor (CM/GC) team will be responsible for the replacement of the 60-year-old, 1,000-foot traffic bridge, and 600-foot pedestrian bridge spanning I-70, the Colorado River and two Union Pacific Railroad mainline tracks. The project will improve public safety, including emergency service response, and reliability of the bridge as a critical transportation route.

Funding for the project is provided by the Colorado Bridge Enterprise. Construction is scheduled to begin January 2016 and scheduled for completion by Summer 2018. For more information visit the SH 82 Grand Avenue Bridge webpage.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE: GVA) is recognized as one of the largest diversified construction companies and construction materials producers in the U.S. Granite is an award-winning firm in safety, quality and environmental stewardship, and has been named one of the World's Most Ethical Companies for six 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
Media Contact:
Jacque Fourchy, 831-761-4741
Investor Contact:
Ronald Botoff, 831-728-7532

Source: Granite Construction Incorporated