Granite Continues Commitment to Highway Safety with $45 Million Project on I-40
Granite (NYSE:GVA) has been awarded an approximately $45 million contract to reconstruct and modernize the John Wilkie Safety Roadside Rest Area along the Interstate 40 (I-40) corridor by the California Department of Transportation (Caltrans). Project funding will come from Caltrans and was included in Granite’s second-quarter CAP.
This project marks the fifth in a series of initiatives to improve safety and infrastructure along I-40. The project scope includes constructing a modern rest area for motorists. Given the significant distance from the nearest town, this upgraded rest area will provide a safe place for travelers to rest and recover, enhancing safety along this stretch of the interstate.
Previous projects included filling in the median, flattening slopes adjacent to the roadway, and creating recovery areas for vehicles that leave the highway.
“We are committed to making I-40 safer for all who travel through this area,” said Bill Moore, Granite Vice President of Regional Operations. “Our relationship with Caltrans has been fostered and strengthened through our continued work along the I-40 corridor, and we are excited to contribute further to this vital infrastructure.”
Granite will provide materials from Desert Cities Asphalt, including 12,200 tons of asphalt for parking lots and ramps, ensuring the highest quality and durability for the new rest area.
The project is expected to begin in September 2024 and be completed in January 2026.
About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240827685112/en/
Granite Construction Stock
With 2 Buy predictions and 3 Sell predictions the community is currently undecided on Granite Construction.
With a target price of 55 € there is a slightly negative potential of -16.03% for Granite Construction compared to the current price of 65.5 €.