WATSONVILLE, Calif., May 10 /PRNewswire-FirstCall/ -- Granite ConstructionIncorporated (NYSE: GVA) announced today that Granite Construction Company, awholly owned subsidiary, in a joint venture with Corman Construction, Inc. andG.A. & F.C. Wagman, Inc., has been awarded a $464 million contract by theMaryland State Highway Administration to design and build the first phase ofthe Intercounty Connector (ICC) Highway in Rockville, Maryland. Granite’sportion of the contract is 55% of the construction budget, or approximately$255 million.
The Granite-led Intercounty Constructors team will design and build overseven miles of the ICC Highway from I-370 to Georgia Avenue (MD97). Totalscope of the project includes the construction of 7.2 miles of new highway,with three lanes in each direction, two interchanges and 23 bridge structures.
In addition, a key factor in the selection of Granite and IntercountyConstructors was their proposal’s sensitivity to the critical ecological andcommunity factors involved in this environmentally sensitive setting, whichincludes a portion of Rock Creek State Park. The design work will commence inthe coming weeks, with mainline construction to begin in the fall of 2007.The project is estimated to be completed by September 2010.
Granite Construction Incorporated is a member of the S&P 400 Index, theDomini 400 Social Index and is the parent company of Granite ConstructionCompany, one of the nation’s largest heavy civil contractors and constructionmaterials producers. Granite Construction Company serves both public andprivate sector clients through its offices nationwide. For more informationabout Granite, please visit its website at www.graniteconstruction.com.
SOURCE Granite Construction Incorporated
