Granite Building has continued its strategic pivot to specializing in smaller, easier jobs with a pair of freeway wins in Texas price a mixed $107 million, in accordance with a firm press launch.
The 2 tasks are on State Freeway 288, close to Cedar Rapids Parkway and Dubuque Parkway south of Houston and canopy 24 lane miles on the four-lane thoroughfare. The award was made and funded by the Texas DOT.
The awards embody development of 5 new bridges, the reconstruction and reconfiguration of entry and exit ramps and new grade separations, the agency mentioned. Work on the 2 new sections of SH 288 will start this fall, with anticipated completion in summer time 2024.
The win follows a smaller, $40 million award introduced in July for an additional 1-mile part of SH 288 in Houston close to the Texas Medical Middle.
It additionally comes on the heels of Granite’s completion of a bigger three way partnership with Ferrovial Agroman US and Webber on the close by Grand Parkway Undertaking, which was valued at $855 million. Granite booked 30% of that quantity into its backlog in 2017, in accordance with a launch.
Granite has been working to get away from bigger, extra advanced tasks of that nature after an accounting scandal rocked its heavy civil group, forcing it to restate three years of its financials and pay a $12 million superb to the Securities and Alternate Fee.
However Granite’s turnaround story has included some stops and begins. Earlier this month, Granite mentioned it was canceling the beforehand introduced sale of its water and mineral models, saying that present market situations had undermined its efforts to safe an acceptable worth for the companies.