Granite Awarded $44 Million Corridor Improvement Project in Reno

Rhea-AI Summary

Granite (NYSE:GVA) has secured a contract for the Oddie Boulevard/Wells Avenue Corridor Project in Reno, Nevada, valued at approximately $44 million. This project will enhance multi-modal transportation across a 3.2-mile corridor, contributing to regional infrastructure improvements. The scope includes roadway reconfiguration, utility upgrades, and enhanced pedestrian access. Scheduled to commence in Q3 2021 and complete by Q2 2023, this project is expected to positively impact Granite's backlog and strengthen its relationship with the Regional Transportation Commission.

Positive

• Secured $44 million contract for multi-modal transport project.
• Enhances regional infrastructure and utility upgrades.
• Strengthens relationship with the Regional Transportation Commission.
• Expected to increase backlog for Granite.

Negative

• None.

Granite (NYSE:GVA) announced that it has been awarded the contract for the Oddie Boulevard/Wells Avenue Corridor Project by the Regional Transportation Commission of Washoe County (RTC) in Reno, Nevada. The project will introduce multi-modal transportation to a 3.2-mile-long corridor from Reno to Sparks. This award is one of several large projects in the Reno area in recent years, and further strengthens Granite’s working relationship with the RTC. The approximately $44 million project is anticipated to be included in Granite’s second quarter backlog.

The scope of work for the project consists of roadway reconfiguration along the corridor, as well as upgrading of utilities and traffic signals, and improved bicycle facilities, sidewalks, and pedestrian access. This materials-intensive venture will provide the Nevada region with an anchor project spanning multiple seasons. Granite’s Lockwood Facility will provide approximately 56,000 tons of asphalt and an additional 42,200 tons of aggregates.

“This project fits our core capabilities in the Nevada Region and leverages Granite’s unique competencies to create an upgraded and modern piece of infrastructure that will serve the region for years,” said Taylor Polan, area manager. “It supports economic investment and redevelopment in the community while enhancing the quality of life for area residents by improving accessibility, safety, and visual character.”

The project is expected to begin in the third quarter of 2021 and be anticipated to be complete by the second quarter of 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 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 is the Oddie Boulevard/Wells Avenue Corridor Project by Granite?

The Oddie Boulevard/Wells Avenue Corridor Project is a $44 million contract awarded to Granite to improve multi-modal transportation in Reno, Nevada, over a 3.2-mile corridor.

When will the Oddie Boulevard project start and finish?

The project is expected to begin in the third quarter of 2021 and be completed by the second quarter of 2023.

How does the Oddie Boulevard project impact Granite's backlog?

The project is anticipated to be included in Granite's backlog, positively affecting the company's future revenue projections.

What improvements are included in the Granite project for Reno?

The project involves roadway reconfiguration, upgrading utilities and traffic signals, and enhancing bicycle facilities and sidewalks for better pedestrian access.