Granite Partners with Caltrans District 1 to Rehabilitate Stretch of Highway 162

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $36 million contract from Caltrans to rehabilitate a 25-mile stretch of Highway 162 in Mendocino County, California. Funded by federal sources and California Senate Bill 1 (SB1), the project will utilize 150,000 tons of conventional and rubberized hot mix asphalt, with recycled tires for the rubberized surface. The project, leveraging materials from Granite's Highway 175 Quarry, aims to enhance road safety and driving quality. Scheduled to start in June 2024 and conclude in September 2025, the effort underscores Granite's ongoing partnership with Caltrans in infrastructure improvement.

Positive

• Granite awarded a $36 million contract.
• Project funded by federal funds and California Senate Bill 1 (SB1).
• Rehabilitation of 25 miles of Highway 162.
• Utilization of 150,000 tons of hot mix asphalt.
• Use of recycled tires for rubberized surface.
• Enhanced road safety and driving quality.
• Scheduled project timeline: June 2024 to September 2025.
• Strengthening partnership with Caltrans.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been awarded an approximately $36 million contract by the California Department of Transportation (Caltrans) to rehabilitate pavement along Highway 162 in Mendocino County, California. Project funding comes from both federal funds and the California Senate Bill (SB1) and was included in Granite’s first-quarter CAP.

The project will improve 25 miles of roadway, the only highway connection to the Covelo-Round Valley area. Granite will furnish and place 150,000 tons of conventional and rubberized hot mix asphalt to rebuild the structural section of the roadway. The rubberized surface course will utilize recycled tires and provide a smooth, quiet, and safe driving surface. All fine aggregate will come from Granite’s Highway 175 Quarry.

“In partnership with Caltrans District 1, our construction and materials teams are ready to deliver another exceptional pavement rehabilitation project for our community,” said Brent Fogg, Granite Vice President of Regional Operations. “We are thrilled to see continued investment from Caltrans to improve critical transportation infrastructure and we are proud to be a trusted partner. We are grateful to the community for their patience and attention to work zones during construction to keep everyone safe.”

“We are pleased to work with Granite on this paving project that will enhance the infrastructure of Route 162 in Mendocino County,” said Katie Everett, Caltrans District 1 Project Manager. “This project will improve safety and result in a smoother drive for the traveling public.”

The project is expected to begin in June 2024 and be completed in September of 2025.

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, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521245988/en/

Granite Contacts

Media

Erin Kuhlman - 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is the value of the contract Granite received from Caltrans for Highway 162 rehabilitation?

Granite received a $36 million contract from Caltrans for the rehabilitation of Highway 162.

How long is the stretch of Highway 162 that Granite will rehabilitate?

Granite will rehabilitate a 25-mile stretch of Highway 162.

What type of asphalt will Granite use for the Highway 162 project?

Granite will use 150,000 tons of conventional and rubberized hot mix asphalt.

When is the Highway 162 rehabilitation project expected to start and finish?

The project is expected to start in June 2024 and be completed in September 2025.

How is the Highway 162 project funded?

The project is funded by federal funds and California Senate Bill 1 (SB1).

What environmental benefit does the rubberized surface course provide in the Highway 162 project?

The rubberized surface course will utilize recycled tires, contributing to environmental sustainability.

What is the source of the fine aggregate for the Highway 162 project?

All fine aggregate will come from Granite’s Highway 175 Quarry.

Who is the project manager for the Highway 162 rehabilitation from Caltrans?

Katie Everett is the Caltrans District 1 Project Manager for the Highway 162 rehabilitation.