Knife River Corp., a subsidiary of MDU Resources Group Inc. (NYSE: MDU), has received a $51 million North Dakota highway construction contract for a bypass project on Highway 85. This is the largest road construction contract Knife River has been awarded in the state.
“Our growing backlog, along with our strong results this year, leads us to believe the construction industry is seeing signs of a sustained recovery,” said David C. Barney, president and CEO of Knife River. “We believe work in many of our markets is picking up, and we continue to see more private projects being offered for bid. We are well-positioned to take on this additional work.”
“This contract is a testament to Knife River’s capabilities. Crews from our North Dakota operations and our Idaho operations will be working on this project, which makes it another good example of our ability to bring together expertise from various divisions,” said David L. Goodin, president and CEO of MDU Resources. “All of our businesses, including Knife River, continue to see growth in the region surrounding the Bakken oil play.”
Knife River plans to begin work on the Highway 85 bypass contract next week and is expecting this year to complete about 1.5 miles of the approximately eight-mile project. Knife River will start construction again in the spring as weather allows and expects to complete the project in the fall of 2014.MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, including regulated utilities and pipelines, exploration and production, and construction materials and services. For more information about MDU Resources, see the company's website at www.mdu.com or contact the Investor Relations Department at email@example.com. Knife River Corporation mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, cement, asphalt, liquid asphalt and other value-added products. It also performs integrated construction services. For more information about Knife River, visit the company’s website at www.kniferiver.com .