Granite – GVA – Joint-Venture Awarded $231 Million Project in Colorado

Granite Construction Incorporated (NYSE:GVA) announced that the joint-venture team comprisingGranite Construction CompanyandAmes Construction, Inc.has been awarded a$231 milliondesign/build contract by theColorado Department of Transportationto reconstruct approximately 10-miles of US 36 outside ofDenver. Granite booked its 50 percent share, or approximately$115 million, into backlog during the first quarter of 2012.

The joint-venture team will be responsible for constructing a managed toll lane in each direction, reconstruction of the general purpose lanes and associated new retaining walls, sound walls, lighting and signage. Reconstruction work also includes replacement of five bridges and widening of two additional bridges.

Project design will begin inApril 2012, with construction starting in August. Project completion is estimated for spring of 2015.

About Granite (GVA)

GVA is one of the nation’s leading infrastructure contractors and is a member of the S&P 400 Midcap Index, the FTSE KLD 400 Social Index and the Russell 2000 Index. Through its wholly-owned subsidiary, Granite is one of the nation’s largest diversified heavy civil contractors and construction materials producers serving public- and private-sector clients nationwide. In addition, Granite has one of the oldest and most robust ethics and compliance programs in the industry and has been recognized by the Ethisphere^TM Institute as one of the World’s Most Ethical Companies for three consecutive years.

Granite Construction Incorporated (GVA) is a diversified heavy civil contractor and construction materials producer in the United States. The Company operates in four segments: Construction, Large Project Construction, Construction Materials and Real estate. It operates nationwide, serving both public and private sector clients.

Within the public sector, it primarily concentrate on heavy-civil infrastructure projects, including the construction of roads, highways, mass transit facilities, airport infrastructure, bridges, dams and canals. Within the private sector, it performs site preparation and infrastructure services for residential development, commercial and industrial buildings, and other facilities. It owns and leases substantial aggregate reserves and owns a number of construction materials processing plants. GVA also has contractor-owned heavy construction equipment fleets in the United States.

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  Granite – GVA – Joint-Venture Awarded $231 Million Project in Colorado

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.