Granite Awarded $32 Million Highway Realignment in California

Rhea-AI Summary

Granite (NYSE:GVA) has been awarded a $32 million contract for the State Route 20 Omega Curve Realignment project in Nevada County, California, funded by State and Federal aid. The project aims to enhance safety by realigning two curves in a high-traffic area. Construction is set to begin in April 2022 and complete by summer 2023. Granite's Vice President highlighted the project's complexity due to steep terrain, and the company’s successful partnership with Caltrans played a key role in securing the contract.

Positive

• Awarded a $32 million contract, enhancing future revenue.
• Safety improvement initiative in a high-traffic accident-prone area.
• Opportunity to utilize Granite’s Bradshaw Hot Plant for project materials.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been selected for the State Route 20 Omega Curve Realignment project in Nevada County, California. The project is awarded by Caltrans and funded by State and Federal aid. The $32 million contract is anticipated to be included in Granite’s first quarter CAP.

This project realigns two existing curves along State Route 20, a high-traffic area with many accidents, and will create a safer passage for the traveling public in Nevada County.

“This is a large earthwork project, running through steep terrain of the Tahoe National Forest—these types of projects do not come around often,” said Granite’s Vice President of Regional Operations Carter Rohrbough. “Our team is excited to capitalize on the opportunity to build this project and continue our successful partnership with the local Caltrans teams.”

The realignment project provides a solid platform for crews to begin work in the 2022 season, which is a challenging bid/build market. Originally second in the bid rankings, Granite was awarded this project because of its clearly articulated Disadvantaged Business Enterprise (DBE) strategy and commitment.

Materials for this project will be supplied by Granite’s Bradshaw Hot Plant facility—42,000 tons of Hot Mix Asphalt will be used for paving the new alignment.

The project is expected to start in April 2022 and anticipated to be complete in summer 2023.

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, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005222/en/

Media

Erin Kuhlman, 831-768-4111

Investors

Wenjun Xu, 831-761-7861

Source: Granite

FAQ

What is the State Route 20 Omega Curve Realignment project by Granite (GVA)?

It is a $32 million contract awarded to Granite for realigning curves to improve safety on State Route 20, starting in April 2022.

When will the Granite (GVA) project start and finish?

The project is expected to start in April 2022 and be completed by summer 2023.

Why was Granite (GVA) awarded the contract for the Omega Curve project?

Granite was awarded the contract due to its strong Disadvantaged Business Enterprise (DBE) strategy and successful bid.

How much Hot Mix Asphalt will Granite (GVA) use for the project?

Granite plans to use 42,000 tons of Hot Mix Asphalt from its Bradshaw Hot Plant facility.