Granite Announces $88 Million Highway Safety Enhancement Project Near Lake Elsinore, California
Granite (NYSE:GVA) has secured an $88 million contract from the California Department of Transportation (Caltrans) for enhancing the Ortega Highway State Route 74. The project encompasses widening shoulders and roadway, installing centerline and edge line rumble strips, and resurfacing the highway to improve safety on this narrow two-lane mountainous route.
The project will be funded through state and federal sources and included in Granite's first-quarter CAP. Construction is scheduled to begin in April 2025 and conclude in November 2026. This project represents a continuation of Granite's ongoing work in the region, supporting their strategic expansion in Southern California's Inland Empire.
Granite (NYSE:GVA) ha ottenuto un contratto di 88 milioni di dollari dal Dipartimento dei Trasporti della California (Caltrans) per migliorare la State Route 74, l'Ortega Highway. Il progetto prevede l'allargamento delle spalle e della carreggiata, l'installazione di strisce di rumore sulla linea centrale e sui bordi, e il rifacimento dell'autostrada per aumentare la sicurezza su questa stretta strada di montagna a due corsie.
Il progetto sarà finanziato attraverso fonti statali e federali ed è incluso nel CAP del primo trimestre di Granite. I lavori inizieranno a aprile 2025 e si concluderanno a novembre 2026. Questo progetto rappresenta una continuazione del lavoro in corso di Granite nella regione, supportando la loro espansione strategica nell'Inland Empire della California del Sud.
Granite (NYSE:GVA) ha asegurado un contrato de 88 millones de dólares del Departamento de Transporte de California (Caltrans) para mejorar la Ruta Estatal 74 Ortega Highway. El proyecto abarca el ensanchamiento de los hombros y la carretera, la instalación de tiras de ruido en la línea central y los bordes, y el reasfaltado de la carretera para mejorar la seguridad en esta estrecha ruta montañosa de dos carriles.
El proyecto será financiado a través de fuentes estatales y federales y se incluirá en el CAP del primer trimestre de Granite. La construcción está programada para comenzar en abril de 2025 y concluir en noviembre de 2026. Este proyecto representa una continuación del trabajo continuo de Granite en la región, apoyando su expansión estratégica en el Inland Empire del sur de California.
Granite (NYSE:GVA)는 캘리포니아 교통부(Caltrans)로부터 8,800만 달러 계약을 체결하여 Ortega Highway 주간 74호선을 개선할 예정입니다. 이 프로젝트는 도로와 갓길을 확장하고, 중앙선 및 가장자리에 덜컹거리는 구간을 설치하며, 이 좁은 2차선 산악 도로의 안전성을 높이기 위해 도로를 재포장하는 것을 포함합니다.
프로젝트는 주 및 연방 자원을 통해 자금을 지원받으며 Granite의 1분기 CAP에 포함될 예정입니다. 공사는 2025년 4월에 시작되어 2026년 11월에 완료될 예정입니다. 이 프로젝트는 Granite가 이 지역에서 현재 진행 중인 작업의 연속으로, 남부 캘리포니아 인랜드 엠파이어에서의 전략적 확장을 지원합니다.
Granite (NYSE:GVA) a obtenu un contrat de 88 millions de dollars du Département des Transports de Californie (Caltrans) pour améliorer la Route d'État 74, l'Ortega Highway. Le projet comprend l'élargissement des accotements et de la chaussée, l'installation de bandes rugueuses au niveau de la ligne centrale et de la bordure de la route, ainsi que le resurfaçage de la route pour améliorer la sécurité sur cette étroite route de montagne à deux voies.
Le projet sera financé par des sources étatiques et fédérales et est inclus dans le CAP du premier trimestre de Granite. La construction devrait commencer en avril 2025 et se terminer en novembre 2026. Ce projet représente une continuité du travail en cours de Granite dans la région, soutenant leur expansion stratégique dans l'Inland Empire du sud de la Californie.
Granite (NYSE:GVA) hat einen Vertrag über 88 Millionen Dollar vom kalifornischen Verkehrsministerium (Caltrans) zur Verbesserung der Ortega Highway State Route 74 gesichert. Das Projekt umfasst die Verbreiterung der Fahrspuren und Seitenstreifen, die Installation von Rüttelstreifen in der Mittel- und Randlinie sowie die Asphaltierung der Straße zur Verbesserung der Sicherheit auf dieser schmalen zweispurigen Bergstraße.
Das Projekt wird durch staatliche und bundesstaatliche Mittel finanziert und ist im ersten Quartal CAP von Granite enthalten. Der Bau soll im April 2025 beginnen und im November 2026 abgeschlossen sein. Dieses Projekt stellt eine Fortsetzung von Granites laufender Arbeit in der Region dar und unterstützt deren strategische Expansion im Inland Empire in Südkalifornien.
- Secured significant $88 million contract from Caltrans
- Project strengthens existing partnership with Caltrans
- Expands company's presence in Southern California market
- Contract to be included in first-quarter CAP
- None.
Insights
The
The contract's inclusion in the Q1 2025 CAP provides immediate backlog enhancement, offering improved revenue visibility through late 2026. The project's location in the Inland Empire aligns with Granite's regional expansion strategy, while the continuation of work on SR-74 offers operational efficiencies through existing site familiarity and established logistics networks.
The secured state and federal funding is especially significant, as it eliminates payment risk concerns and reflects the ongoing commitment to infrastructure investment. The 18-month project timeline from April 2025 to November 2026 suggests steady revenue recognition and resource utilization.
This contract also demonstrates Granite's strong competitive positioning in the California market, particularly in safety-focused infrastructure projects. Their established relationship with Caltrans and track record in the region likely provided competitive advantages in the bidding process. The project's focus on safety improvements aligns with current infrastructure spending priorities, potentially positioning Granite favorably for similar future contracts.
The project scope includes widening the shoulders and roadway, allowing for the installation of centerline and edge line rumble strips. These enhancements will provide vehicle buffer room, significantly improving safety on this narrow two-lane mountainous highway.
In addition to widening this section of SR-74, the project will resurface the highway, ensuring safer and more efficient travel. This project continues our ongoing efforts on this stretch of highway, building on the work we have been doing over the past few years.
“We have been working closely with Caltrans on this highway for several years, and we are excited to continue this partnership,” said Bill Moore, Granite Vice President of Regional Operations. “It aligns with our strategic goal of expanding our footprint in the Inland Empire of Southern California.”
Construction is expected to begin in April 2025 and be completed in November 2026.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20250123833642/en/
Granite Contacts
Media
Erin Kuhlman 831-768-4111
Investors
Wenjun Xu - 831-761-7861
Source: Granite
FAQ
What is the value of Granite's new Ortega Highway contract?
When will Granite's SR-74 highway project begin and end?
What improvements will GVA make to the Ortega Highway?
How is Granite's SR-74 highway project being funded?
