Granite Secures $23.8 Million Award for North Texas Watershed Upgrades

Rhea-AI Summary

Granite (NYSE:GVA) has secured three contracts worth approximately $23.8 million from the Ellis-Prairie Soil and Water Conservation District in Ellis County, Texas. These contracts, announced during the fourth quarter of 2021 and expected to contribute to the first quarter of 2022, involve the rehabilitation and upgrading of floodwater retention structures across three sites. The improvements will enhance flood protection and control rainfall runoff. Completion is anticipated by October 2023.

Positive

• Secured contracts worth $23.8 million, enhancing revenue prospects.
• Projects will improve infrastructure and flood management in North Texas.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced the award of three contracts totaling approximately $23.8 million by Ellis-Prairie Soil and Water Conservation District. Located in Ellis County, Texas, the first contract was included in Granite’s fourth quarter 2021 CAP and the remaining two contracts are anticipated to be included in Granite’s first quarter 2022 CAP.

Granite’s scope of work includes the rehabilitation and upgrading of floodwater retarding structures at three sites. In total, these three projects include 178,000 CY of excavation, 51,000 CY of embankment, installation of principal spillway inlets, three labyrinth weir structures and accompanying 18” x 18” slide gates, associated pipework, irrigation, pollution control, and removal of water. The upgrades at each site will be integral in supporting the ongoing operations of the district’s series of structures and dams, which are located throughout the county to help protect downstream areas from flooding after rain events and temporarily control rainfall runoff.

“Granite’s work on these contracts will continue our role of constructing important dam structures and water resource projects in North Texas,” said Matt Shepherd, Granite vice president of the Texas Region. “Our team is pleased with our ability to provide the best value on not just one, but three contracts. We look forward to collaborating on future work for this program for the Ellis-Prairie Soil and Water Conservation District.”

The projects are underway and are expected to be completed in October of 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/20220224005160/en/

Media

Erin Kuhlman, 831-768-4111

Investors

Wenjun Xu, 831-761-7861

Source: Granite

FAQ

What contracts were awarded to Granite (GVA) in Texas?

Granite was awarded three contracts totaling approximately $23.8 million for rehabilitation and upgrading floodwater retarding structures in Ellis County, Texas.

When are the projects expected to be completed?

The projects are expected to be completed by October 2023.

How much revenue do the new contracts represent for Granite (GVA)?

The new contracts represent approximately $23.8 million in revenue for Granite.

What is the scope of work for the awarded contracts?

The scope includes excavation, embankment, installation of spillway inlets, and pollution control measures.