Boston, MA 10/06/2014 (wallstreetpr) – According to reports, Granite Construction Inc. (NYSE:GVA) recently announced that it had been awarded a freeway project worth $21 million by the City of Bakersfield. GVA has been given the contract for State Route 99/Hosking Avenue Interchange project. As per the information, the company is expecting to book this project into backlog during 3Q2014.
Insights of the matter:
Granite Construction Inc. (NYSE:GVA) has been rewarded for its tremendous record, eye-for-detail way of working and 100% devotion towards given task. Scope of the current project will include replacement and demolition of the existing two-lane bridge, which is located over State Route 99.
The project has been funded completely by a few well-known entities for example Thomas Roads Improvement Program (TRIP). It is a cooperative effort between County of Kern, City of Bakersfield and Kern and Caltrans Council of Governments. If everything goes fine, then GVA will begin the construction work in the first half of November and look to finish the complete project by December 2015. The speed of work depends upon regulatory approvals and other issues. GVA is one of the largest, most preferred and well-acclaimed construction materials producers and contractors of the country.
Granite Construction Inc. (NYSE:GVA)’s expertise includes complex infrastructure projects, like federal and industrial contracting, transportation and alternative procurement project delivery. It has been delivering top notched products for the last few years continuously; therefore, local authorities have decided to give it a place among top 25 companies of the countries. It has won several awards in the past for practicing good environmental stewardship, quality, safety and organizational ethics. Even though, it is not the first award for the company, but still the entire management team of GVA is extremely delighted as it would give them an opportunity to explore more of such complex projects. Granite Construction Inc. (NYSE:GVA) expects that successful completion of the current project will open doors for many more such projects in the future.
