Granite Joint Venture Team Awarded $42 Million Highway Project in Northern California

WATSONVILLE, Calif.--(BUSINESS WIRE)--

Granite Construction Incorporated 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 completed by the end of 2014.

About Granite

Granite is one of the nation's leading infrastructure contractors and is member of the S&P 400 Midcap Index, the FTSE KLD 400 Social Index and the Russell 2000 Index. Through its wholly owned subsidiary, Granite is one of the nation's largest diversified heavy civil contractors and construction materials producers serving public- and private-sector clients nationwide. In addition, Granite has one of the oldest and most robust ethics and compliance programs in the industry. In 2012, the Company was recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for the third year in a row. For more information please visit www.graniteconstruction.com.