Granite Subsidiary Awarded $75 Million Joint Venture Bridge Project in Illinois

By Business Wire,  June 10, 2014, 05:30:00 PM EDT


WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE:GVA) announced today that a joint-venture team comprised of Kenny Construction Company, a Granite subsidiary, and Edward Kraemer & Sons Inc. has been awarded a $75 million bridge reconstruction and widening contract by the Illinois Tollway. Granite will book its 41 percent share, or approximately $31 million, into backlog during the second quarter of 2014.

The joint-venture team will be responsible for constructing two new bridge structures that will increase capacity of the Fox River Bridge from six lanes to eight lanes with full shoulders to accommodate the new, wider Interstate 90 roadway. The new bridge structures will be 1,315-feet long, stand 40-feet above the surface of the Fox River and have eight spans supported by seven piers. The existing structures have 14 piers. The new structures will have fewer piers to reduce the environmental impact on the waterway and forested fen below.

The Project is projected to start in June 2014 and be completed by the end of 2016. The bridge will remain open with three lanes in each direction being maintained during peak hours.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE:GVA) is one of the nation's largest infrastructure contractors and construction materials producers. Recognized as one of the top 25 largest construction companies in the U.S., 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 World's Most Ethical Companies by Ethisphere Institute for five years in a row. For more information, visit www.graniteconstruction.com.

Source: Granite Construction Incorporated



This article appears in: News Headlines

Referenced Stocks: GVA


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