Granite Joint Venture Secures $155 Million Progressive Design Build Project in Utah

Rhea-AI Summary

Granite (NYSE:GVA) announced a $16.5 million construction manager contract for the 5600 South Design Build project by the Utah Department of Transportation. The total project value is $155 million, with Granite's share at $93 million (60%). The scope includes widening 5600 South in Roy, Utah, constructing six bridges, and utilizing around 85,000 tons of hot mix asphalt. The construction manager phase starts in February 2022, with overall construction anticipated to begin in Q2 2023. This marks a continuation of Granite's successful partnership with UDOT.

Positive

• Awarded $16.5 million construction manager contract.
• Granite's share of the project is $93 million (60% of total value).
• Contract reinforces long-standing relationship with UDOT over 25 years.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that Sand Ridge Constructors, a joint venture of Granite and W.W. Clyde & Co., has been awarded the $16.5 million construction manager portion of the 5600 South Progressive Design Build (PDB) project by the Utah Department of Transportation (UDOT). The project construction contract is anticipated to be $155 million with Granite taking $93 million of the total (60 percent). The construction manager contract was included in Granite’s 2021 fourth quarter CAP.

Project scope covers the widening from three to five lanes of approximately three miles of 5600 South in Roy, Utah, with work including hot mix asphalt (HMA), utilities, curb-gutter-sidewalk, cast-in-place barrier, and mechanically stabilized earth walls. The project will construct six bridges: one pedestrian bridge, one above grade crossing, two new mainline I-15 interchange bridges, one off-ramp bridge over railroad, and one collector-distributor bridge. The Ogden West Haven HMA plant will supply approximately 85,000 tons of HMA for the project.

“Our relationship with UDOT over the past 25 years has been impeccable,” said Jason Klaumann, Granite’s Utah Region Manager. “We’ve worked extensively with their project teams and built a lot of mutual respect and trust. In addition, it is a win for Granite to secure another large progressive design build (PDB) project as our current PDB, US-89, is winding down.”

The construction manager phase is expected to begin in February 2022, and construction is expected to start in Q2 2023.

About Granite

Celebrating its centennial year, 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/20220207005172/en/

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Source: Granite

FAQ

What is the value of the contract awarded to Granite for the 5600 South project?

Granite has been awarded a $16.5 million construction manager contract for the 5600 South project.

What percentage of the total project value is Granite's share?

Granite's share of the total project value is $93 million, which is 60%.

When is construction expected to start for the 5600 South project?

Construction is anticipated to begin in Q2 2023.