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Granite's $78 Million Road Congestion Relief Project in Anaheim, California

1. Granite awarded $78 million infrastructure project by Caltrans in Orange County. 2. Project aims to improve traffic flow and safety in the SR 55/91 corridor. 3. Construction includes bridge work, retaining walls, and storm drainage upgrades. 4. First of three projects to reduce congestion in the area. 5. Construction to start in April 2025, completing by October 2027.

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FAQ

Why Bullish?

The award of a significant contract often stimulates investor confidence and may lead to increased stock prices, as seen in past scenarios when firms secured large infrastructure projects.

How important is it?

Winning significant contracts like this can drive future projects and strengthen market position, impacting stock performance.

Why Long Term?

The project's duration suggests sustained revenue potential over several years, akin to other long-term contract awards that positively influenced associated companies.

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CALTRANSSR 55SR 91
WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded a $78 million infrastructure project by the California Department of Transportation (Caltrans) in Orange County, California. Project funding is to come from state and federal sources and will be included in Granite’s first-quarter CAP. The project is centered around the demolition and reconstruction of a 320-foot-long concrete bridge. This new bridge is designed to improve mobility throughout the State Route 55 and State Route 91 (SR 55/91) corridor by reducing weaving and merging between ramps, thereby enhancing traffic flow and safety. In addition to the bridge work, the project will include the construction of retaining walls, sound walls, and both asphalt and concrete paving. The development will also see upgrades to the area's storm drainage and electrical systems, ensuring a modern, efficient, and sustainable infrastructure. This is the first of three segmented projects aimed at improving the SR 55/91 connector and reducing congestion caused by the bottleneck through the SR 55 and SR 91 transition corridor. “This project represents the largest local Caltrans project that Granite’s Los Angeles/Orange County (LAOC) team has captured to date,” said Scott McArthur, Granite Vice President of Regional Operations. “Additionally, this project allows Granite to continue to foster our two-time partnering award-winning relationship with District 12 and will also improve our ability to capturing future opportunities with alternative delivery projects in the LA and Orange County market areas.” Construction is expected to begin in April 2025 and be completed in October 2027. 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.

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