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Granite Joint Venture Team Awarded $97 Million Military Infrastructure Project in Guam

1. Granite awarded a $97 million contract for energy storage in Guam. 2. The project funded by DOD may boost GVA's revenue and growth prospects.

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Why Bullish?

The $97 million contract signifies strong demand in energy storage, potentially increasing GVA's revenue. Previous contracts in defense projects have typically resulted in positive price movements for similar firms.

How important is it?

The contract size is significant, indicating a strong revenue boost potential that can attract investor interest. Robust government contracts often signal stability and growth in a volatile market.

Why Long Term?

Successful project completion may enhance GVA's reputation and lead to future contracts. Historical trends show that sustained defense contracts can lead to long-term growth.

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WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that the joint venture team comprised of Granite and Obayashi Corporation has been awarded an approximately $97 million contract by the Naval Facilities Engineering Command (NAVFAC) to improve the Battery Energy Storage System (BESS) capabilities at Polaris Point, Guam. Project funding comes from the Department of Defense (DOD), and as consolidating partner, the total contract award of $97 million will be included in Grani.

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