Granite Joint Venture Awarded $275MM Highway Construction Project in Sacramento

WATSONVILLE, Calif. (June 18, 2019) — Granite (NYSE:GVA) announced today that the joint venture team comprised of Granite and Teichert, Inc. has been awarded a $275 million contract by the California Department of Transportation (Caltrans) for the SAC 5 Corridor Enhancement Project in Sacramento, California. Granite will book its 50 percent share of the $275 million joint venture project into its second quarter 2019 backlog.

The project will rehabilitate 67 lane miles of Interstate 5 (I-5) beginning south of the Elk Grove Boulevard Overcrossing and extending to the American River Viaduct. Scope of works includes adding 23 miles of High Occupancy Vehicle lanes, eight maintenance vehicle pullouts, two sound walls, replacement of a pedestrian overcrossing and installation of fiber optic lines. In addition, the team intends to recycle existing concrete pavement and other materials onsite to reduce waste and cost as well as minimize truck haul trips.

Construction is scheduled to begin in fall 2019 and be completed by fall 2021. For more information on the project visit the SAC 5 Corridor Enhancement Project page.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE: GVA) is a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite, America’s Infrastructure Company, 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 ten 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, visit graniteconstruction.com.

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