Granite’s Alaska Region to Execute Richardson Highway Resurfacing Project

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $13 million contract for the Richardson Highway MP 40-51 Resurfacing project in Alaska, awarded by the Alaska Department of Transportation. The project involves 11 miles of grinding and paving, along with additional improvements such as culvert replacement and bridge repairs. Anticipated to start in July 2022 and complete by July 2023, this project enhances Granite's relationship with the DOT and showcases its capabilities in infrastructure development.

Positive

• Secured a $13 million contract, enhancing revenue streams.
• Strengthened relationships with the Alaska Department of Transportation.
• Utilization of portable plants for project execution, highlighting operational strengths.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that it has received the approximately $13 million contract for the Richardson Highway MP 40-51 Resurfacing project. Located between Valdez, Alaska and Glennallen, Alaska, the project was awarded by Alaska Department of Transportation and Public Facilities (DOT&PF) Northern Region and will be funded by the federal government. The award is anticipated to be included in Granite’s second quarter CAP.

The main scope of work is the grinding and paving of around 11 miles of the Richardson Highway. Additional improvements include replacement of cross culverts, guardrail, and bridge repairs.

“The Richardson Highway project expands our relationship with the Northern Region DOT&PF team and allows us to work on an essential piece of the state’s road infrastructure,” said Derek Betts, regional vice president. “We will be leveraging our portable crusher and hot plant on this job—a great win for our portable plants team that highlights some of Granite’s unique capabilities in the region.”

The project is expected to start in July 2022 and anticipated to be complete in July 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 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, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220613005129/en/

Granite

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Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What contract did Granite secure in Alaska?

Granite secured a $13 million contract for the Richardson Highway MP 40-51 Resurfacing project.

When will the Richardson Highway project start?

The Richardson Highway project is expected to start in July 2022.

What improvements are included in the Richardson Highway project?

The project includes grinding and paving 11 miles, replacing cross culverts, and bridge repairs.

Who awarded the contract to Granite?

The contract was awarded by the Alaska Department of Transportation and Public Facilities.

When is the Richardson Highway project expected to be completed?

The project is anticipated to be complete in July 2023.