Granite on Joint Venture Team to Construct $109 Million Highway Improvement Project in Arizona

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced that the joint-venture team comprised of Granite Construction Company and Pulice Construction, Inc. has been awarded a $109 million design/build contract by the Arizona Department of Transportation to reconstruct 19 miles of State Route 202 in Phoenix. Granite expects to book its 35 percent share, or approximately $38 million, into backlog during the fourth quarter.

Scope of the work includes capacity improvements across the 19-mile project by adding both general purpose lanes and high occupancy vehicle lanes in both directions. The work also includes the reconstruction of eight bridges, installation of concrete barrier, noise and retaining walls, improvements to the Freeway Management System as well as all drainage, signing and lighting modifications.

Work is currently underway and is anticipated to be complete by December 2015. For more information visit http://azdot.gov/projects.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE: GVA) is one of the nation’s leading infrastructure contractors and construction materials producers. Recognized as one of the top 25 largest construction companies in the U.S., 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 five years in a row. For more information, visit www.graniteconstruction.com.

Granite Construction Incorporated
Media Contact:
Jacqueline Fourchy, 831-761-4741
Investor Contact:
Ronald Botoff, 831-728-7532

Source: Granite Construction Incorporated