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Granite Awarded $16 Million Airport Refueling Facility Project in San Diego

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Granite (NYSE:GVA) has secured a $16 million contract for the West Refueler Loading Facility & West Solid Waste Facility project at San Diego International Airport. This project, expected to be included in Granite's Q4 2020 backlog, involves constructing a five-bay refueler loading facility, along with an oil/water separator and spill containment area. Construction is slated to commence in January 2021 and conclude by November 2021. This partnership expands Granite's work with the San Diego County Regional Airport Authority, building on previous successful projects.

Positive
  • Awarded $16 million contract, enhancing backlog.
  • Construction project at a major airport signals growth potential.
  • Continued partnership with San Diego County Regional Airport Authority.
Negative
  • None.

WATSONVILLE, Calif.--()--Granite (NYSE:GVA) announced that it has been awarded the West Refueler Loading Facility & West Solid Waste Facility project by the San Diego County Regional Airport Authority at the San Diego International Airport (SAN). The $16 million contract is anticipated to be booked in Granite's fourth quarter 2020 backlog.

The project includes the construction of a five-bay refueler loading facility connecting the existing fuel transfer pipeline near the fuel farm. Granite’s scope of work includes the construction of an oil/water separator and containment spill area, construction and modification of associated surrounding pavements, and incidental improvements to support the installation of the fuel distribution pipes and refueler loading facility.

“We have completed several projects for the San Diego County Regional Airport Authority and are very familiar with the complexities of airside construction,” said Granite Regional Vice President John Boies. “We are pleased to broaden our partnership with the Authority to improve the safety, security and quality of the facility.”

Construction is expected to begin in January 2021 and expected to conclude in November 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. In addition to being one of the World’s Most Ethical Companies for eleven 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.

Contacts

Media
Erin Kuhlman 831-768-4111

Investors
Lisa Curtis 831-728-7532

FAQ

What contract has Granite recently secured?

Granite has secured a $16 million contract for the West Refueler Loading Facility & West Solid Waste Facility project at San Diego International Airport.

When will construction begin for the new project by Granite?

Construction for the new project is expected to begin in January 2021.

What is the expected completion date for the project awarded to Granite?

The project is expected to conclude by November 2021.

Where is the project that Granite was awarded located?

The project is located at San Diego International Airport.

How does this contract impact Granite's stock performance?

The $16 million contract is expected to positively impact Granite's backlog and growth potential, which could influence stock performance.

Granite Construction Inc.

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