Granite-Led JV Awarded $42M Highway Project in Northern California
Granite Construction Incorporated (NYSE: GVA) announced today that the
joint venture of Granite Construction Company and MCM Construction, Inc.
has been awarded a $42 million highway contract by the California
Department of Transportation for the construction of the San Juan Road
Interchange in Monterey County. Granite booked its 66% share, or
approximately $28 million, into backlog during the third quarter of 2012.
The project includes the construction of a new interchange and frontage
roads to improve public safety when entering and exiting Highway 101
north of Salinas. Granite's Salinas hot-mix asphalt plant will provide
the approximately 92,000 tons of asphalt pavement needed for the project.
Work is estimated to begin this month and be