Granite Subsidiary Awarded $63 Million Tunnel Project in Chicago

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that Kenny Construction Company (“Kenny”), a wholly-owned Granite subsidiary, has been awarded a $63 million contract by the Chicago Department of Transportation for the construction of the Albany Park Storm Water Diversion Tunnel in Chicago, Illinois. Granite booked the project into backlog during the first quarter of 2016.

Kenny will be responsible for the construction of a one mile, 18-foot diameter concrete lined rock tunnel located in the Albany Park neighborhood in the Northwest side of Chicago. Scope of the work includes inlet and outlet shafts, the inlet structure on the North Branch of the Chicago River as well as the outlet structure on the North Shore Channel.

The project is intended to reduce surface flooding along the river by diverting excess storm water without affecting the river's water level in normal times. Construction is scheduled to begin in late April 2016 and be completed in approximately two years.

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 seven 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