Granite Awarded $12 Million CMAR Runway Rehabilitation Project in Central California

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $12 million contract from the County of San Luis Obispo for the construction phase of the Runway 11-29 Rehabilitation Project at San Luis Obispo County Regional Airport. This project follows Granite's previous contract for the construction manager at risk (CMAR) portion in 2020, where they provided design assistance. The work includes milling the runway and replacing it with new hot mix asphalt, along with upgrading signs and lighting to energy-efficient LED. Construction is set to begin in July 2021 and wrap up by October 2021.

Positive

• Awarded a $12 million contract, boosting revenue potential.
• Contract includes efficient project management through CMAR.
• Commitment to sustainability with energy-efficient LED upgrades.

Negative

• None.

Granite (NYSE:GVA) announced that it has been awarded a contract by the County of San Luis Obispo for the construction phase of the Runway 11-29 Rehabilitation Project at San Luis Obispo County Regional Airport in central California. Granite had previously received a contract for the construction manager at risk portion (CMAR) of the project in 2020 and provided preconstruction design assistance. The rehabilitation is the first CMAR contract for the County, a delivery method where the construction manager acts as an agent of the owner in the design and construction phases to provide engineering, cost estimating, and construction expertise. The approximately $12 million contract award is anticipated to be included in Granite’s second quarter backlog.

The scope of work consists of milling the existing pavement of the 6100-foot long runway to a depth of four inches and replacing it with four inches of new hot mix asphalt (HMA). Additionally, Granite will replace existing signs and lighting with energy-efficient LED equipment. Granite’s Gardner Asphalt Plant will provide approximately 30,000 tons of HMA for the project.

“The team worked diligently with the County and project designer, Mead & Hunt, to finalize the design, provide value engineering, evaluate risk, and provide runway closure schedule options,” said Granite Construction Manager Adam Souza. “Together, we arrived at the most efficient and cost-effective option for the airport with the least disruption for airport stakeholders.”

Construction is expected to begin in July 2021 and is expected to be completed by October 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. 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.

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FAQ

What contract did Granite receive in June 2021?

Granite was awarded a $12 million contract for the Runway 11-29 Rehabilitation Project at San Luis Obispo County Regional Airport.

What is the scope of work for the GVA contract?

The contract involves milling the existing runway and laying down new hot mix asphalt, as well as replacing signs and lighting with energy-efficient LED equipment.

When is the construction for the GVA project expected to start?

Construction is expected to begin in July 2021.

When will the GVA project be completed?

The project is anticipated to be completed by October 2021.

How does the CMAR contract benefit the GVA project?

The CMAR contract allows Granite to provide engineering, cost estimating, and expertise, ensuring a cost-effective and efficient delivery.