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Granite Wins $38 Million Pair of Contracts for I-5 Rehabilitation and Improvements
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Granite (NYSE:GVA) has secured two significant contracts totaling approximately $38 million for improvements on Interstate 5 in California. The first contract, valued at $27 million, involves pavement rehabilitation on 10.6 miles of I-5, while the second, worth $11 million, focuses on replacing two bridge structures over Tumey Gulch. Both projects will utilize materials from Granite's Coalinga facility and are scheduled to commence in July 2022 and be completed by October 2023.
Positive
Secured contracts worth approximately $38 million
Rehabilitation of 10.6 miles of I-5 enhances infrastructure
Projects will utilize materials from Granite’s Coalinga facility
Negative
None.
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite (NYSE:GVA) announced today the award of two contracts for work on Interstate 5 near Three Rocks, California. The first, an approximately $27 million contract, will rehabilitate pavement and construct culvert improvements on I-5. The second, an approximately $11 million contract, will replace two bridge structures over Tumey Gulch on I-5. The awards are anticipated to be included in Granite’s second quarter CAP.
For the first contract, project scope includes pavement rehabilitation of 10.6 miles of I-5 with new Hot Mix Asphalt (HMA) and Rubberized Hot Mix Asphalt (RHMA). Additional improvements include four new drainage systems and two new box culverts. 97 existing culverts will be lined with cured-in-place pipeliner (CIPP). The second contract covers a one-mile gap in the first contract in the areas approaching Tumey Gulch. Here, the scope of work consists of replacing bridge structures for both north- and south-bound lanes. The bridges will be single span structures with precast girders and cast-in-place concrete decks. One mile of I-5 will be reconstructed and re-profiled to conform to the new bridge deck elevations.
“The I-5 Rehabilitation project is a great opportunity to showcase our expertise in transportation infrastructure,” said Carter Rohrbough, vice president of regional operations. “We are executing the Tumey Gulch bridge replacement project as an internal partnership between our Valley Region and Central California Region, allowing us to pull experience from across the company. In addition, our Coalinga facility will be providing the materials to both projects, so these jobs are strongly aligned to Granite’s new home market strategy.”
Both jobs will rely on materials from Granite’s Coalinga Quarry and Hot Plant, including 103,000 tons of HMA, 56,000 of RHMA, and 10,000 cubic yards of import borrow. Work is expected to start in July 2022 and anticipated to complete in October 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.
What are the details of the contracts awarded to Granite (GVA)?
Granite was awarded two contracts totaling approximately $38 million for improvements on Interstate 5 in California, including pavement rehabilitation and bridge replacements.
When is the expected completion date for Granite's I-5 projects?
The projects are expected to start in July 2022 and complete by October 2023.
How much is the first contract awarded to Granite (GVA)?
The first contract is valued at approximately $27 million for pavement rehabilitation.
What is the value of the second contract awarded to Granite (GVA)?
The second contract is worth approximately $11 million for replacing two bridge structures.
Where will the materials for the I-5 projects come from?
Materials for the projects will be sourced from Granite's Coalinga facility.
