Granite Awarded $59 Million Airport Project in Los Angeles
April 12 2017 - 7:30AM
Business Wire
Granite Construction Incorporated (NYSE:GVA) announced today
that it has been awarded a $59 million sub-contract by
the Turner/PCL Joint Venture for the Midfield Satellite Concourse
North Project at the Los Angeles International Airport (LAX) in
California. Approximately $16 million was booked into backlog in
the fourth quarter of 2016 and $43 million in the first quarter of
2017.
Granite’s scope of work includes demolition of over 80,000 cubic
yards of existing portland cement concrete and asphalt surfaces,
demolition of over 13,000 feet of existing utilities, over 350,000
cubic yards of mass grading, structural excavation and backfill,
and installation of over 28,000 feet of new domestic and fire
water, storm drain, sanitary sewer, and natural gas utilities,
along with nearly 3,000 cubic yards of utility structures including
the construction of five pump stations.
The approximately $1.6 billion Midfield Satellite Concourse
Project will expand LAX’s capacity to serve international travelers
in and out of the Tom Bradley International Terminal. Construction
is currently underway with Granite’s portion of the work scheduled
to be complete by December 2019.
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.
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 eight 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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Granite Construction IncorporatedMediaJacque Fourchy,
831-761-4741orInvestorsRonald Botoff, 831-728-7532
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