STOCK TITAN

Granite Announces Pavement Rehabilitation Project on SR 99 in Tulare, California

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

Granite has secured a $21 million contract from Caltrans to rehabilitate three miles of pavement on SR 99 through Tulare, California. The project involves replacing existing pavement with 56,300 tons of hot mix asphalt and 7,200 tons of rubberized hot mix asphalt. The scope includes repaving thirteen ramps, replacing concrete pavement at ten locations, drainage improvements, upgraded signage, new striping, and median enhancements. The project will also implement extensive highway electrical upgrades including ramp metering systems, camera systems, and traffic monitoring stations. Construction is scheduled from November 2024 to May 2026.

Granite ha ottenuto un contratto di 21 milioni di dollari da Caltrans per riabilitare tre miglia di pavimentazione sulla SR 99 attraverso Tulare, California. Il progetto prevede la sostituzione dell'asfalto esistente con 56.300 tonnellate di asfalto a caldo e 7.200 tonnellate di asfalto a caldo rubberizzato. L'ambito include la rifacimento di tredici rampe, la sostituzione della pavimentazione in cemento in dieci punti, miglioramenti nel drenaggio, segnaletica aggiornata, nuova striscia di delimitazione e miglioramenti nella mediana. Il progetto implementerà inoltre importanti aggiornamenti elettrici per l'autostrada, tra cui sistemi di misurazione delle rampe, sistemi di telecamere e stazioni di monitoraggio del traffico. La costruzione è programmata da novembre 2024 a maggio 2026.

Granite ha asegurado un contrato de 21 millones de dólares de Caltrans para rehabilitar tres millas de pavimento en la SR 99 a través de Tulare, California. El proyecto implica reemplazar el pavimento existente con 56,300 toneladas de asfalto en caliente y 7,200 toneladas de asfalto en caliente con caucho. El alcance incluye la repavimentación de trece rampas, el reemplazo del pavimento de concreto en diez ubicaciones, mejoras en el drenaje, señalización actualizada, nuevas marcas viales y mejoras en la mediana. El proyecto también implementará importantes actualizaciones eléctricas en la autopista, incluyendo sistemas de medición de rampas, sistemas de cámaras y estaciones de monitoreo del tráfico. La construcción está programada desde noviembre de 2024 hasta mayo de 2026.

그라나이트는 캘리포니아 팰로앨토를 지나가는 SR 99 도로에서 3마일의 포장을 복원하기 위해 칼트랜스와 2100만 달러 계약을 체결했습니다. 이 프로젝트는 기존 포장을 56,300톤의 뜨거운 혼합 아스팔트와 7,200톤의 고무 혼합 아스팔트로 교체하는 것을 포함합니다. 범위에는 13개의 램프 포장, 10개 지점에서의 콘크리트 포장 교체, 배수 개선, 업그레이드된 표지판, 새로운 도로 표시 및 중앙 분리대 개선이 포함됩니다. 또한 이 프로젝트는 램프 측정 시스템, 카메라 시스템 및 교통 모니터링 스테이션을 포함한 대규모 도로 전기 업데이트를 구현할 예정입니다. 건설은 2024년 11월부터 2026년 5월까지 예정되어 있습니다.

Granite a obtenu un contrat de 21 millions de dollars de Caltrans pour réhabiliter trois miles de revêtement sur la SR 99 à Tulare, Californie. Le projet comprend le remplacement du revêtement existant par 56 300 tonnes d'asphalte à chaud et 7 200 tonnes d'asphalte à chaud caoutchouté. Le périmètre inclut le revêtement de treize rampes, le remplacement du pavé en béton à dix endroits, des améliorations du drainage, une signalisation mise à jour, de nouvelles marquages au sol et des améliorations de la médiane. Le projet mettra également en œuvre d'importantes mises à niveau électriques pour l'autoroute, y compris des systèmes de régulation des rampes, des systèmes de caméras et des stations de surveillance du trafic. La construction est prévue de novembre 2024 à mai 2026.

Granite hat einen 21-Millionen-Dollar-Vertrag mit Caltrans gesichert, um drei Meilen Asphalt auf der SR 99 in Tulare, Kalifornien, zu rehabilitieren. Das Projekt beinhaltet den Austausch des bestehenden Asphalts durch 56.300 Tonnen Heißasphalt und 7.200 Tonnen gummierten Heißasphalt. Der Umfang umfasst die Neueinfassung von dreizehn Rampen, den Austausch von Betonbelägen an zehn Stellen, Entwässerungsverbesserungen, aktualisierte Beschilderungen, neue Markierungen und Verbesserungen der Mittelinsel. Das Projekt wird zudem umfangreiche elektrische Aufrüstungen der Autobahn implementieren, darunter Rampenmesssysteme, Kamerasysteme und Verkehrsanalyse-Stationen. Der Bau ist von November 2024 bis Mai 2026 geplant.

Positive
  • Secured $21 million contract from Caltrans
  • Project funding included in Q3 CAP
  • Builds on previous successful project in same location from 2020
Negative
  • None.

Insights

This $21 million contract win demonstrates Granite's continued success in securing public infrastructure projects. The award strengthens their backlog and provides revenue visibility into 2025-2026. The project's federal funding source ensures payment reliability, while inclusion in Q3 CAP indicates proper financial planning.

The comprehensive scope including asphalt paving, concrete work, drainage improvements and electrical upgrades showcases Granite's diverse capabilities. Their previous successful project in the same location provides operational efficiency advantages and local market expertise. The 18-month timeline allows for optimal resource allocation and predictable revenue recognition.

The project's technical specifications reveal significant material volumes: 56,300 tons of hot mix asphalt and 7,200 tons of rubberized asphalt, plus 2,500 cubic yards of concrete. The comprehensive scope including drainage, signage, barriers and electrical systems demonstrates high complexity. The timing (November 2024 start) aligns with optimal construction weather conditions in California's Central Valley, reducing execution risks.

Granite's previous experience in the area provides strategic advantages in resource mobilization, local supplier relationships and familiarity with site conditions. This positions them well for efficient project delivery and margin protection.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been awarded an approximately $21 million contract by the California Department of Transportation (Caltrans) to rehabilitate three miles of pavement on both the northbound and southbound lanes of State Route 99 (SR 99) through Tulare, California. Project funding is to come from federal sources and was included in Granite’s third-quarter CAP.

The existing pavement will be removed using cold planing and replaced with 56,300 tons of hot mix asphalt (HMA), followed by a cap of 7,200 tons of rubberized hot mix asphalt (RHMA). In addition to the mainline, thirteen ramps along the corridor will also be repaved. At ten locations, existing concrete pavement at under crossings will be replaced with 2,500 cubic yards of jointed plain concrete pavement.

The project also includes comprehensive drainage improvements, upgraded roadside signage, and new striping. The median will be enhanced with the removal and replacement of nearly 32,000 linear feet of thrie beam barrier. Extensive highway electrical upgrades will be implemented along this corridor, including ramp metering systems, camera systems, highway lighting, and traffic monitoring stations.

“This project falls within the same limits as a project completed in 2020, providing our local crews with work that can be completed early in the 2025 season and re-establishing our presence in Tulare County,” said Carter Rohrbough, Granite Vice President of Regional Operations. “Granite has a long history of successfully partnering with Caltrans District 6 to deliver high-quality projects for the traveling public in the Central Valley. We look forward to delivering another exceptional project for the local community.”

Construction is expected to begin in November 2024 and be completed in May 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 the United States as well as a full-suite civil construction provider. 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 the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

Granite Contacts

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is the value of Granite's (GVA) new SR 99 rehabilitation contract in Tulare?

Granite (GVA) has been awarded an approximately $21 million contract by Caltrans for the SR 99 rehabilitation project in Tulare, California.

When will Granite (GVA) begin construction on the Tulare SR 99 project?

Construction on the SR 99 rehabilitation project is expected to begin in November 2024 and be completed in May 2026.

What is the scope of Granite's (GVA) SR 99 rehabilitation project in Tulare?

The project includes rehabilitating three miles of pavement on both northbound and southbound lanes, repaving thirteen ramps, replacing concrete pavement at ten locations, drainage improvements, and highway electrical upgrades.

Granite Construction Inc.

NYSE:GVA

GVA Rankings

GVA Latest News

GVA Stock Data

3.66B
43.69M
1.03%
111.59%
10.38%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States of America
WATSONVILLE