GVA - Granite Joint Venture Awarded $125 Million Bay City Bridges Project in Michigan
Granite (NYSE:GVA) announced that the joint venture team comprised of Granite and Kraemer North America has been awarded a Construction Manager/General Contractor (CM/GC) contract by United Bridge Partners for the Bay City Bridges Project in Bay City, Michigan. CM/GC procurement involves the contractor during the design and planning phases and offers a lower risk profile for both the contractor and the owner while increasing the overall value to project stakeholders. This process is designed to promote collaboration and to solicit value-adding feedback from the contractor. As a consolidating partner, the total contract award of $125 million is anticipated to be included in Granite's fourth quarter 2020 committed and awarded projects (CAP) 1 .
“This project supports our geographic expansion and strategic focus on alternate delivery models,” said Granite Regional Vice President Ryan Clark. “It also provides growth opportunities for our team members, expands our capabilities in moveable bridge construction and rehabilitation, and reinforces our strong partnership with United Bridge Partners and their mission to repair our national infrastructure by providing privately-funded bridge solutions to public agencies.”
The scope of work includes the rehabilitation of the existing Liberty Bridge and a complete reconstruction and alignment of the Independence Bridge. Both bridges will remain in service through the duration of the project.
Design and preconstruction services are underway, and construction is expected to be complete by the end of 2023.
(1) CAP is comprised of unearned revenue and other awards, as well as construction management/general contractor and alternative procurement projects.
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. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com , and connect with Granite on LinkedIn , Twitter , Facebook , and Instagram .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210112006073/en/
Media
Erin Kuhlman 831-768-4111
Investors
Lisa Curtis 831-728-7532