Granite Construction Awarded Contract for Ave J Interchange Improvements in Lancaster, California

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $30 million contract from the City of Lancaster for improvements to the Avenue J Interchange at California State Route 14. This project, funded by Caltrans, the City, and LA Metro, involves widening on- and off-ramps and constructing new ramps, enhancing safety and alleviating congestion. Scheduled to commence in Spring 2023 and conclude by Spring 2024, Granite will provide approximately 17,000 tons of asphalt from its Llano facility. Granite has emphasized its commitment to safety and quality, highlighting its longstanding partnership with Lancaster.

Positive

• Secured a $30 million contract for infrastructure improvements.
• Project funded by multiple agencies, ensuring financial stability.
• Expected to improve safety and alleviate congestion on SR 14.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been selected by the City of Lancaster to lead an approximately $30 million contract for various improvements to the Avenue J (Ave J) Interchange at California State Route 14 (SR 14). The project will be funded by Caltrans, the City of Lancaster, and the Los Angeles County Metropolitan Transportation Authority (LA Metro) and be included in Granite’s first quarter CAP 2023.

The project scope consists of widening the existing northside on- and off-ramps, constructing new on- and off-ramps on the south side of Ave J, and building four new retaining walls. Additionally, the project will involve landscape beautification. Upon completion, the new northbound off-ramp and the southbound on-ramp to SR 14 will provide an additional access point to the highway, improving safety by relieving congestion on SR 14 and providing increased usability for Ave J.

To complete the project, Granite will supply approximately 17,000 tons of asphalt materials from its Big Rock Facility in nearby Llano, CA.

“The City of Lancaster has been a great partner since we started operating in the Antelope Valley 35 years ago,” said Granite Area Manager Andrew Burk. “Granite has a long-standing commitment to safety and quality, and the company is proud to have been selected for this important project.”

The project is scheduled to start in Spring 2023 and is expected to be completed by Spring 2024.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230307005012/en/

Granite Contacts

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite Construction

FAQ

What is Granite's new contract value for the Avenue J Interchange project?

Granite has secured a $30 million contract for the Avenue J Interchange project.

When is the Avenue J Interchange project scheduled to start and finish?

The project is scheduled to start in Spring 2023 and be completed by Spring 2024.

Who is funding the Avenue J Interchange improvements?

The project is funded by Caltrans, the City of Lancaster, and LA Metro.

How many tons of asphalt will Granite supply for the project?

Granite will supply approximately 17,000 tons of asphalt materials from its Llano facility.