Granite Awarded $855 Million Joint Venture Design-Build Highway Project in Texas

Business Wire 18-Jul-2017 8:30 AM

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that Grand Parkway Infrastructure, LLC comprised of Granite Construction Company, Ferrovial Agroman US Corp. and Webber, LLC has been awarded the SH-99 Grand Parkway Design-Build Contract for Segments H, I-1, and I-2 by the Texas Department of Transportation. Granite booked its 30 percent share of the $855 million joint venture project into backlog during the second quarter of 2017.

Scope of the contract includes the construction of 52.5 miles of highway through Chambers, Harris, Liberty and Montgomery counties. The team is responsible for the construction of 37.5 miles of a tolled two-lane controlled access facility with intermittent four lane sections, new toll lanes and tolling equipment. There are also 74 new bridges along the length of the project and more than 10 million yards of earthwork to be moved.

Work is scheduled to begin in July 2017 and conclude in spring 2022. For more information visit theGrand Parkway Association website.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE:GVA) is one of the nations largest infrastructure contractors and construction materials producers. Granite specializes in complex infrastructure projects, including transportation, industrial and federal contracting, and is a proven leader in alternative procurement project delivery. Granite is an award-winning firm in safety, quality and environmental stewardship, and has been honored as one of the Worlds Most Ethical Companies by Ethisphere Institute for eight consecutive years. Granite is listed on the New York Stock Exchange and is part of the S&P MidCap 400 Index, the MSCI KLD 400 Social Index and the Russell 2000 Index. For more information, visitgraniteconstruction.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170718005474/en/

Granite Construction Incorporated MediaJacque Fourchy 831-761-4741orInvestorsRonald Botoff 831-728-7532

Source: Granite Construction Incorporated