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Granite Awarded $44 Million Corridor Improvement Project in Reno

BusinessWire_EN 
0 0 17.06.21
Granite Awarded $44 Million Corridor Improvement Project in Reno: https://mms.businesswire.com/media/20191118005918/en/662198/5/Granite-Logo-Color.jpg
 

Granite (NYSE:GVA) announced that it has been awarded the contract for the Oddie Boulevard/Wells Avenue Corridor Project by the Regional Transportation Commission of Washoe County (RTC) in Reno, Nevada. The project will introduce multi-modal transportation to a 3.2-mile-long corridor from Reno to Sparks. This award is one of several large projects in the Reno area in recent years, and further strengthens Granite’s working relationship with the RTC. The approximately $44 million project is anticipated to be included in Granite’s second quarter backlog.

The scope of work for the project consists of roadway reconfiguration along the corridor, as well as upgrading of utilities and traffic signals, and improved bicycle facilities, sidewalks, and pedestrian access. This materials-intensive venture will provide the Nevada region with an anchor project spanning multiple seasons. Granite’s Lockwood Facility will provide approximately 56,000 tons of asphalt and an additional 42,200 tons of aggregates.

“This project fits our core capabilities in the Nevada Region and leverages Granite’s unique competencies to create an upgraded and modern piece of infrastructure that will serve the region for years,” said Taylor Polan, area manager. “It supports economic investment and redevelopment in the community while enhancing the quality of life for area residents by improving accessibility, safety, and visual character.”

The project is expected to begin in the third quarter of 2021 and be anticipated to be complete by the second quarter of 2023.

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. 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/20210617005157/en/

Granite Construction Stock

€50.50
-0.980%
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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