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Keeping Lone-Star Travelers Moving: Granite Secures Highway Work in Texas
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Rhea-AI Summary
Granite (NYSE:GVA) has secured two construction contracts totaling approximately $107 million for projects on State Highway 288 near Houston, Texas. These contracts, funded by the Texas Department of Transportation, expand Granite's total project value on SH 288 to over $145 million when combined with an earlier $40 million contract. The projects will cover 24 lane miles of highway, including the construction of five new bridges and improvements to ramps. Construction is expected to start in fall 2022 and be completed by summer 2024.
Positive
Awarded contracts valued at approximately $107 million.
Total project value on State Highway 288 exceeds $145 million.
Involves significant construction work, including five new bridges.
Negative
None.
WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite (NYSE:GVA) announced today that is has been awarded two construction contracts worth approximately $107 million on State Highway 288 near Houston, Texas. When combined with the previously announced$40 million contract on a different segment of SH 288, the additional segments give Granite more than $145 million of work on SH 288. The contracts were awarded and will be funded by the Texas Department of Transportation. They are anticipated to be included in Granite’s third quarter CAP.
In total, the two projects—one centered on SH 288 at Cedar Rapids Parkway, the other on SH 288 at Dubuque Parkway—cover 24 lane miles in six miles of four lane highway. The scope of work includes construction of five new bridges, the reconstruction and reconfiguration of entry and exit ramps approaching the new structures, and new grade separations. Granite will set up a batch concrete plant to provide material for these projects.
Coming on the heels of the recent completion of the Grand Parkway Project, Granite teams are ready for a seamless transition to the work on SH 288. “The strong collaboration between our operating and estimating teams was critical to bid day success,” said Domingo Gonzalez, Granite project executive. “These adjacent projects are also a chance to continue our successful partnership with the local TxDOT teams on delivering the infrastructure that people need.”
The project start is expected in fall 2022 and anticipated completion is summer 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.
