Granite Awarded $130 Million Interstate Reconstruction Project in North Carolina
WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYS: GVA) announced today that it has been awarded a $130 million design-build contract by the North Carolina Department of Transportation for the I-40/440 reconstruction project. Granite will book the project into backlog when the contract is executed and a notice to proceed has been issued, both of which are expected to take place before the end of the second quarter of 2013.
Located in Raleigh, the project entails reconstruction of an 11.5-mile stretch of I-40 between the US 1 and US 64/264 interchanges. The existing portland cement concrete structure will be replaced with approximately 900,000 tons of asphalt pavement. In addition, Granite will widen two existing bridges and rehabilitate 14 others, perform widening for additional auxiliary lanes and make drainage improvements throughout the length of the project.
Design work on the project will begin immediately following contract execution with construction scheduled to begin later this year. The project is scheduled for completion in late 2016. For more information, visit http://www.ncdot.gov/projects/I40-440Rebuild/.
Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYS: GVA) is one of the nation's largest infrastructure contractors and construction materials producers. Incorporated in 1922, Granite serves public- and private-sector clients on projects both small and large. Granite's project teams represent some of the best in the industry serving owners in the transportation, power, federal, tunneling, underground, and industrial/mining and water resources markets. In 2013, the Company was recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for the fourth year in a row. For more information, please visit www.graniteconstruction.com.
Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
KEYWORDS: United States North America California North Carolina
The article Granite Awarded $130 Million Interstate Reconstruction Project in North Carolina originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.