Granite Awarded $79 Million Segment of a Multi-Phase CMGC Project to Reconstruct Highway 101 in Southern California
Granite Construction Incorporated (GVA)
Last granite construction incorporated earnings: 10/25 06:55 am
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Source: Business Wire
WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today it has been awarded a $79 million contract by the California Department of Transportation (Caltrans) to construct the Highway 101: Carpinteria project in Santa Barbara County, California. The $79 million contract award will be booked in Granite’s second quarter 2020 backlog.This project is one of five segments that will be constructed as part of an overall effort to reconstruct 10.9 miles of Highway 101. In December 2018, Granite announced that it had been selected as the Construction Manager/General Contractor (CMGC) for the overall Highway 101: Carpinteria to Santa Barbara project. The estimated construction contract value for the remaining segments is approximately $400 million.“This project is critical to the safety and mobility of one of the state’s most congested highways,” said Kyle Larkin, Granite executive vice president and chief operating officer. “As the CMGC, Granite is proud to be partnering wit
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