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Granite Awarded $126 Million Contract to Support the Relocation of United States Marines
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Rhea-AI Summary
Granite (NYSE:GVA) has secured a $126 million contract from Naval Facilities Engineering Systems Command (NAVFAC) Pacific to construct buildings and infrastructure at Marine Corps Base Camp Blaz in Guam. This project supports the relocation of U.S. Marines from Okinawa, Japan, and includes construction of three buildings totaling over 110,000 square feet, including a warehouse, climate-controlled maintenance space, an automotive shop, and a vehicle wash rack. The project commences in April 2023 and is expected to conclude by December 2025. This diversification of Granite's Federal portfolio reflects their longstanding commitment to the Department of Defense's buildup initiative in Guam.
Positive
Secured a significant contract worth $126 million.
Diversifies Federal portfolio and strengthens military partnerships.
Long-term project duration indicates stable revenue stream through December 2025.
Negative
None.
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite (NYSE:GVA) has been awarded an approximately $126 million contract by Naval Facilities Engineering Systems Command (NAVFAC) Pacific for the construction of buildings and infrastructure which will support the relocation of U.S. Marines to Marine Corps Base (MCB) Camp Blaz, Guam, USA. The project will be funded by NAVFAC Pacific and be included in Granite’s 2023 first-quarter CAP.
Granite's work involves constructing three buildings, totaling more than 110,000 square feet, and site infrastructure related to the relocation of U.S. Marines to Guam from Okinawa, Japan. The project encompasses a warehouse for battalion equipment storage, a climate-controlled space for electronic equipment maintenance and support of battalion vehicles, an automotive organizational shop for the upkeep and support of battalion vehicles, a reinforced concrete four-bay vehicle wash rack, and a reinforced concrete vehicle holding shed for vehicles awaiting repairs and service.
“This strategic win is a result of Granite's Federal Division's more than a decade-long work in Guam, supporting initiatives to strengthen our home market and promoting our client-centric culture,” said Granite VP of Regional Operations, Curt Haldeman. “This project diversifies our Federal portfolio, and we are extremely excited to continue our partnership with NAVFAC and strengthen our commitment to the Department of Defense'sGuam buildup initiative.”
The project will begin in April 2023 and is expected to be completed by December 2025.
About Granite
Granite is America’s Infrastructure Company™. Incorporated in 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 more than 6,000 employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for ten consecutive years, 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.
