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Granite Awarded $48 Million Runway Rehabilitation Project In Alaska

Stocks in this article: GVA

Granite Construction Incorporated (NYSE:GVA) announced today that it has been awarded a $48 million runway rehabilitation contract by the Alaska Department of Transportation and Public Facilities.

This federally-funded project consists of rehabilitation of Runway 7L/25R at the Ted Stevens Anchorage International Airport. Improvements include rehabilitation of connecting taxiways, replacement and upgrading of airfield lighting and signage, and construction of a new access road. Granite crews will place over 225,000 tons of hot-mix asphalt and import approximately 350,000 tons of borrow material.

Scope of the work will be completed under two separate notices to proceed valued at $19 million and $29 million, respectively. Construction on the project is scheduled to start in the second quarter 2014 and is estimated to be fully complete by fourth quarter 2015.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE: GVA) is one of the nation’s largest infrastructure contractors and construction materials producers. Recognized as one of the top 25 largest construction companies in the U.S., Granite specializes in complex infrastructure projects, including transportation, industrial and federal contracting, and is a proven leader in alternative procurement project delivery. Granite is an award-winning firm in Safety, Quality and Environmental Stewardship, and has been honored as one of the World’s Most Ethical Companies by Ethisphere Institute for five years in a row. For more information, visit www.graniteconstruction.com.



Copyright Business Wire 2010

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