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Granite Awarded $25 Million Interchange Reconstruction Project in Southern California

BusinessWire_EN 
0 0 25.02.20
Granite Awarded $25 Million Interchange Reconstruction Project in Southern California
 

Granite (NYSE:GVA) announced today it has been awarded a $25 million contract by the California Department of Transportation for the Interstate 8 at Imperial Avenue Interchange Reconstruction Project in El Centro, California, approximately 115 miles east of San Diego.

Granite’s scope of work includes the complete removal of the existing bridge and associated on/off ramps as well as reconstructing the interchange with a new bridge and ramps that will provide easier access into the City of El Centro from Interstate 8. Work will be completed by Granite teams from both its Desert Cities Region and its South Coast Region. Construction materials for the project, including both aggregates and asphalt, will be supplied by nearby Granite facilities.

“We are always pleased to have the opportunity to do work that is in the backyard of one of our office locations,” said Granite Regional Vice President, Brad Williams. “Not only will this project provide improved access into the City of El Centro, it allows our teams to make an impact on the community in which our Imperial Valley employees live and work.”

Construction on the project is expected to begin in the second quarter of 2020 and is estimated to be complete in the third quarter of 2021.

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 ten consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200224005913/en/

Granite Construction Stock

€50.00
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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 16.0% compared to the current price of 50.0 € for Granite Construction.
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