GVA - Granite Awarded $33 Million Highway Reconstruction Project in Central California

Granite (NYSE: GVA) has been awarded a contract by the California Department of Transportation (Caltrans) for the reconstruction of four miles of State Route 99 (SR 99) near Kingsburg. A primary source of funding for this project is Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017 that is expected to invest $54 billion over a ten-year period to improve California’s roads, freeways and bridges. Granite booked the $33 million contract in the fourth quarter of 2019.

This four-mile project includes reconstructing two lanes in both directions of SR 99 with continuously reinforced concrete pavement as well as reconstructing ten off- and on-ramps with hot-mix asphalt.

“We are proud to be partnering with Caltrans on another SB 1-funded project to improve SR 99 through the heart of the Central Valley,” said Jim Radich, vice president of Granite’s California operations.

Construction is expected to begin in the second quarter of 2020 and scheduled for completion in the third quarter of 2021.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for ten consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit www.graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200102005406/en/