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Granite Awarded $12 Million Roadway Construction Project in California’s Central Valley

BusinessWire_EN 
0 0 05.11.20
Granite Awarded $12 Million Roadway Construction Project in California’s Central Valley: https://mms.businesswire.com/media/20191118005918/en/662198/5/Granite-Logo-Color.jpg
 

Granite (NYSE:GVA) announced it has been awarded a $12 million contract for the Oakhurst Midtown Connector project by the County of Madera in Oakhurst, California. The contract was included in Granite's third quarter 2020 backlog.

By constructing a new two-lane road connecting State Route 41 with Indian Springs Road/High School Road, in Oakhurst, traffic congestion from Highway 41 to Road 426 will be alleviated. Granite will be responsible for the construction of the new roadway, cast-in-place box girder bridge over Nelder Creek, bike lanes, sidewalks, and two signalized intersections.

“We look forward to working with Madera County on this project to help mitigate traffic congestion and provide a safe path for pedestrians and cyclists,” said Granite Area Manager Jeff Grimm. “The project will also benefit from the internal joint venture between our Granite Fresno and Bakersfield teams.”

Construction is underway and expected to be complete in spring 2022.

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 employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven 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/20201104005695/en/

Granite Construction Stock

€50.50
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Granite Construction shows a slight decrease today, losing -€0.500 (-0.980%) compared to yesterday.
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 14.85% compared to the current price of 50.5 € for Granite Construction.
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