Granite Construction Joint Venture Team Awarded $165 Million Military Infrastructure Project in Guam
31 August 2017 - 7:30AM
Business Wire
Granite Construction Incorporated (NYSE:GVA) announced today
that the joint venture team comprised of Granite and Obayashi
Corporation has been awarded a $165 million contract by
the Naval Facilities Engineering Command (NAVFAC) Pacific for the
Finegayan Utilities and Site Improvements Phase I project in
Finegayan, Guam. Granite’s portion of the contract is 55 percent.
As consolidating partner, the total contract award of $165
million will be booked into Granite’s backlog in the third
quarter of 2017.
The Marine Corps Base Guam, located on the Naval Computer and
Telecommunications Station, will house about a third of the 5,000
U.S. Marines who will be relocated from Okinawa and stationed on
Guam in the coming years.
The project will prepare the 400-acre site for future
construction of operational, administrative and bachelor housing
structures for the new Marine Corps base. The joint venture team
will be responsible for the demolition of existing structures,
utility relocation, new utilities, roads and other infrastructure
such as fencing, sidewalks, signage and striping as well as
clearing the site of unexploded ordnance and munitions of explosive
concern. The construction will be executed employing green waste
and storm water management, mitigation of historic properties, and
conservation measures for threatened and endangered species.
The project is underway and is scheduled to be complete by
2020.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170830005444/en/
Granite Construction IncorporatedMediaJacque Fourchy,
831-761-4741InvestorsRonald Botoff, 831-728-7532
Granite Construction (NYSE:GVA)
Historical Stock Chart
From Apr 2024 to May 2024
Granite Construction (NYSE:GVA)
Historical Stock Chart
From May 2023 to May 2024