Granite Joint-Venture Awarded $231 Million Design/Build Project in Colorado

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that the joint-venture team comprising Granite Construction Company and Ames Construction, Inc. has been awarded a $231 million design/build contract by the Colorado Department of Transportation to reconstruct approximately 10-miles of US 36 outside of Denver. Granite booked its 50 percent share, or approximately $115 million, into backlog during the first quarter of 2012.

The joint-venture team will be responsible for constructing a managed toll lane in each direction, reconstruction of the general purpose lanes and associated new retaining walls, sound walls, lighting and signage. Reconstruction work also includes replacement of five bridges and widening of two additional bridges.

Project design will begin in April 2012, with construction starting in August. Project completion is estimated for spring of 2015.

About Granite

Granite is one of the nation’s leading infrastructure contractors and is a member of the S&P 400 Midcap Index, the FTSE KLD 400 Social Index and the Russell 2000 Index. Through its wholly-owned subsidiary, Granite is one of the nation’s largest diversified heavy civil contractors and construction materials producers serving public- and private-sector clients nationwide. In addition, Granite has one of the oldest and most robust ethics and compliance programs in the industry and has been recognized by the Ethisphere^TM Institute as one of the World’s Most Ethical Companies for three consecutive years. For more information please visit www.graniteconstruction.com.

Granite Construction Incorporated

Source: Granite Construction Incorporated