Granite Awarded Rail Yard Construction Project in Central California

Rhea-AI Summary

Granite (NYSE:GVA) has secured the Intermodal Ethanol Transfer Facility project from Eco-Energy Distribution in Stockton, California. This contract is expected to be part of Granite's first quarter 2021 backlog. The project entails a new rail yard on 17 acres, accommodating 108 rail cars, and includes various construction works such as mechanical and electrical systems, stormwater controls, and site improvements. Construction is currently in progress, with an anticipated completion date of February 2022.

Positive

• Awarded the Intermodal Ethanol Transfer Facility project by Eco-Energy Distribution.
• Project expected to be included in first quarter 2021 backlog.
• Construction includes mechanical, electrical, and fire protection systems, enhancing service capabilities.
• Self-performing key construction tasks like demolition and grading, potentially improving margins.

Negative

• None.

Granite (NYSE:GVA) has been awarded the Intermodal Ethanol Transfer Facility project by Eco-Energy Distribution in Stockton, California. The contract award is anticipated to be included in Granite’s first quarter 2021 backlog.

The project will establish a new rail yard on 17 acres in the Port of Stockton to accommodate 108 rail cars for the Eco-Energy Intermodal Ethanol Transfer Facility. The scope of work includes the construction of mechanical, electrical, and fire protection systems; support facilities; a 2,400-square-foot pre-engineered metal administration building; and stormwater controls, as well as civil site improvements. Granite will self-perform the demolition, grading, storm drain construction, and concrete and paving work.

“This project will be our third at the Port of Stockton in four years,” said Granite Territory Manager Marc Almassy. “Our diverse portfolio, including industrial, rail, and structural concrete, sets us apart from the local competition and makes us a good fit for opportunities at the Port.”

Granite’s French Camp and Vernalis facilities in San Joaquin County, California, will supply the aggregates and hot mix asphalt for the project.

Construction is underway and is expected to be completed by February 2022.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210420006084/en/

FAQ

What is the Intermodal Ethanol Transfer Facility project awarded to Granite (GVA)?

The Intermodal Ethanol Transfer Facility project involves establishing a new rail yard for Eco-Energy Distribution in Stockton, California, accommodating 108 rail cars and various construction works.

When is the expected completion date for the project awarded to Granite (GVA)?

The project is expected to be completed by February 2022.

What are the key components of the Intermodal Ethanol Transfer Facility project by Granite (GVA)?

Key components include construction of mechanical, electrical, and fire protection systems, along with stormwater controls and civil site improvements.

How will the Intermodal Ethanol Transfer Facility project impact Granite's (GVA) backlog?

The contract is anticipated to be included in Granite's first quarter 2021 backlog, potentially enhancing the company's revenue pipeline.