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Granite Awarded $16 Million Pedestrian Overpass Project in Bellevue, Washington

BusinessWire_EN 
0 0 11.01.22
Granite Awarded $16 Million Pedestrian Overpass Project in Bellevue, Washington: https://mms.businesswire.com/media/20191118005918/en/662198/5/Granite-Logo-Color.jpg
 

Granite (NYSE:GVA) announced today that it has secured the approximately $16 million contract for the Eastside Rail Corridor Regional Trail NE 8th Street Crossing project in Bellevue, Washington. The project was awarded by King County and will be funded by King County and Sound Transit. The award is anticipated to be included in Granite’s first quarter CAP.

This project is a key portion of the Eastrail program, which is converting 42 miles of abandoned railroad into a regional trail connecting Eastside communities from Renton to Snohomish. The scope of work includes the construction of an elevated pedestrian bridge across NE 8th Street adjacent to the Sound Transit Wilburton Station, as well as related work to improve pedestrian traffic between NE 6th Street and NE 10th Street.

“We have successfully built a number of structural steel truss bridges in the area, including the Tolt River Bridge. This project continues our long-standing partnership with King County to deliver projects that connect our communities,” said Granite Vice President of Regional Operations Mike Stein. “The Eastside Corridor Regional Trail NE 8th Street Crossing allows us to maintain continuity for our structures team with a highly architectural structure.”

The project is projected to start in March 2022 and anticipated to be complete in June 2023.

About Granite

Celebrating its centennial year, 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. 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/20220111005395/en/

Granite Construction Stock

€55.00
-1.790%
A loss of -1.790% shows a downward development for Granite Construction.
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 5.45% compared to the current price of 55.0 € for Granite Construction.
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