WATSONVILLE, Calif., Sept. 10 /PRNewswire-FirstCall/ -- Granite Construction Company, a wholly owned subsidiary of Granite Construction Incorporated (NYSE: GVA) today announced that its Bay Area Branch, in a joint venture with FCI Constructors, Inc., has been awarded a $138 million project by the California Department of Transportation for the reconstruction of the Route 92/880 freeway interchange in Hayward, California. Granite's portion of the contract is 43%, or approximately $60 million.
The joint venture team will construct over eight bridges, as well as a modernized interchange, retaining walls, new storm water pump station and all associated roadwork. The project also includes complete demolition of the existing interchange.
Work on the project will begin in October 2007 and is estimated to be completed by December 2010.
About Granite
Granite Construction Incorporated is a member of the S&P 400 Midcap Index, the Domini 400 Social Index and the Russell 2000. 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 the 4th straight year, Granite was named to FORTUNE'S List of 100 Best Companies to Work For. For more information about Granite, please visit their website at http://www.graniteconstruction.com.
SOURCE Granite Construction Company
