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Granite Awarded $10 Million Stormwater Channel Improvement Project in California


Granite (NYSE:GVA) announced today that it has been awarded a $10 million contract by the Coachella Valley Water District (CVWD) for the Coachella Valley Stormwater Channel Avenue 62 to Avenue 64 Bank Protection and Fillmore Ditch Outfall Improvement Project in Coachella, California.

Granite will place concrete lining on the bank of the Coachella Valley Stormwater Channel for approximately one mile. When complete, the concrete lining will help to protect facilities and buildings adjacent to the channel from flood damage as well as prevent the bank from eroding during flooding. Granite is responsible for the earthwork, dewatering, concrete placement, and the construction of a large outfall structure.

“This project will provide flood control and flood evacuation for the surrounding community as well as for the CVWD, our client of more than twenty-five years,” stated Brad Williams, Granite’s Desert Cities Regional Manager.

Construction began last month and is scheduled to be complete in fall 2020.

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 provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its more than 6,000 employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for ten consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191203006065/en/

Granite Construction Stock

€51.00
2.000%
Granite Construction gained 2.000% today.
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards Granite Construction is rather balanced.
As a result the target price of 58 € shows a slightly positive potential of 13.73% compared to the current price of 51.0 € for Granite Construction.
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