Granite Secures $17 Million Duncan Creek Diversion Dam Improvement Project

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $17 million construction contract from the Placer County Water Agency for upgrades at the Duncan Creek Diversion Dam in California. This project is part of a broader effort to enhance older dams in the Sierra Nevada region, ensuring compliance with modern safety standards set by the California Department of Water Resources. Key updates include a new pneumatic gate structure, improved fish passage capabilities, and the installation of micro-hydropower units. The project is set to start in Q4 2022 and aims for completion by 2024.

Positive

• Awarded a $17 million contract, enhancing company revenue.
• Improvements will modernize infrastructure, ensuring regulatory compliance.
• Strengthens relationship with Placer County Water Agency, building on previous projects.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that it has been awarded an approximately $17 million construction contract by the Placer County Water Agency (PCWA) for updates and improvements at the Duncan Creek Diversion Dam near Foresthill, California. The dam is one of the hundreds of older, small dams in Northern California’s Sierra Nevada Mountains. Many of them will require major modifications in the near future in order to bring them up to modern standards. Through the improvement project, the Duncan Creek dam will be brought up to current standards as required by the California Department of Water Resources Division of Safety of Dams (DSOD), while improving fish passage and allowing for more efficient operation of the facility. The award is anticipated to be included in Granite’s third quarter cap.

(Photo: Business Wire)

Project updates include creating a new pneumatic gate structure to increase downstream sediment delivery, adding new piping and gate controls to manage instream flows, adding new gates and structure for pulse flow capacity, and building a new concrete structure and intake bay consisting of a fish screening facility to prevent entrainment and provide downstream fish stream passage. Additionally, the project includes installation of micro-hydropower units to provide local power to new equipment controls and communication.

“This project will extend our relationship with PCWA and build on the partnership recently established on the Interbay Sediment Removal Project, which we completed for the owner in 2021,” said Carter Rohrbough, Granite VP Regional Operations.

The project is anticipated to begin in fourth quarter 2022 and expected to be completed in 2024.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005244/en/

Granite Contacts

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is the value of the new contract awarded to Granite (GVA)?

Granite (GVA) has been awarded a construction contract valued at approximately $17 million.

Which agency awarded the contract to Granite (GVA) for the Duncan Creek Diversion Dam?

The contract was awarded by the Placer County Water Agency.

When is the construction project for Duncan Creek Diversion Dam expected to start?

The project is anticipated to begin in the fourth quarter of 2022.

What improvements will be made to the Duncan Creek Diversion Dam?

Improvements include a new pneumatic gate structure, fish passage enhancements, and micro-hydropower units.

When is the completion date for the Duncan Creek Diversion Dam project?

The project is expected to be completed in 2024.