Granite Secures $75 Million Roadway Project in Las Vegas

Rhea-AI Summary

Granite (NYSE:GVA) has secured a $75 million contract from the Nevada Department of Transportation for the I-515 and Charleston Boulevard Interchange improvement project in Las Vegas. This project, which commenced in August 2022, is set for completion in Q2 2024. The scope includes widening Charleston Boulevard, ramp improvements, adding auxiliary lanes, and constructing new retaining walls. Granite's involvement dates back to 2017, enhancing their expertise in non-traditional project delivery methods.

Positive

• Awarded a significant $75 million contract, enhancing revenue prospects.
• Continued collaboration with NDOT showcases strong client relations and trust.
• Expertise in non-traditional project delivery methods may lead to future projects.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that it has been awarded the approximately $75 million contract for the I-515 and Charleston Boulevard Interchange improvement project by the Nevada Department of Transportation (NDOT). Located in Las Vegas, this project is being completed via the Construction Manager at Risk (CMAR) project delivery method. Granite was originally hired in 2017 to provide preconstruction services.

The scope of work includes the widening of Charleston Boulevard, construction of ramp improvements at the Charleston Boulevard and Eastern Avenue interchange, and the addition of auxiliary lanes on I-515 between the two roads. In addition, the project will widen four bridges, create new sound-barrier walls, and create a number of mechanically stabilized earth retaining walls. During the previous preconstruction phase, Granite presented cost estimates, completed plan review on all drawings, developed the project’s Maintenance of Traffic plan, and participated in public outreach.

“We have been heavily involved in this project since 2017 and are thrilled that we get to continue working with NDOT on I-515,” said Don Sawyer, Granite area manager. “As a company, we continue to grow our expertise in non-traditional project delivery methods, and we’re excited to build a project that will provide so much benefit to the travelling public.”

The project is expected to start in August 2022 and projected to be completed in Q2, 2024.

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/20220323005105/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 has been awarded a $75 million contract for the I-515 and Charleston Boulevard Interchange improvement project.

When is the expected completion date for the I-515 project by Granite (GVA)?

The I-515 project is projected to be completed in Q2 2024.

What are the main improvements involved in the I-515 project by Granite (GVA)?

The project includes widening Charleston Boulevard, ramp improvements, and adding auxiliary lanes.

Since when has Granite (GVA) been involved in the I-515 project?

Granite was originally hired in 2017 to provide preconstruction services for this project.

Which organization awarded the contract to Granite (GVA) for the I-515 project?

The contract was awarded by the Nevada Department of Transportation (NDOT).