Granite Construction Inc. Secures Approximately $19 Million Preconstruction Services Contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy GVA?
Source: moomoo
Construction Agreement: A construction agreement has been established for a project valued at approximately $19 million.
Service Scope: The agreement outlines the services to be provided by the construction company involved in the project.
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Analyst Views on GVA
Wall Street analysts forecast GVA stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 128.610
Low
108.08
Averages
119.04
High
130.00
Current: 128.610
Low
108.08
Averages
119.04
High
130.00
About GVA
Granite Construction Incorporated is a diversified construction and construction materials company in the United States as well as a full-suite civil construction provider. The Company's segments include Construction and Materials. The Construction segment is focused on construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure and site development for use by the general public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities and energy companies. It also provides construction of various complex projects including infrastructure/site development, mining, public safety, tunnel, solar, battery storage and other power-related projects. The Materials segment is focused on production of aggregates, asphalt concrete, liquid asphalt and recycled materials production for internal use in its construction projects and for sale to third parties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Granite Construction Inc. Secures Approximately $19 Million Preconstruction Services Contract
Construction Agreement: A construction agreement has been established for a project valued at approximately $19 million.
Service Scope: The agreement outlines the services to be provided by the construction company involved in the project.
See More
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- Project Resumption: The funding freeze had triggered a work stoppage threatening nearly 1,000 jobs, but contractors are now instructed to prepare for construction resumption next week, ensuring the project stays on track.
- Legal Obligation: Governor Hochul emphasized that the federal government has a legal obligation to fully fund the Gateway project, highlighting the importance of continuous funding support to prevent future disruptions for workers and commuters.
- Infrastructure Significance: The Gateway project is one of the most critical infrastructure initiatives in the U.S., with the existing North River Tunnel carrying 200,000 passengers daily and in urgent need of repairs to meet growing transportation demands.
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See More
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- Project Selection: The Nevada Department of Transportation has selected Granite to provide preconstruction services for the I-80 East Widening Project, with a contract value of approximately $19 million, marking a significant milestone toward the anticipated $475 million construction phase.
- Funding Sources: The construction phase will be funded through a combination of $275 million from the USDOT INFRA Grant program and additional support from state and federal sources, highlighting the government's commitment to infrastructure investment.
- Collaborative Model: As the inaugural Progressive Design-Build (PDB) contractor, Granite will work closely with NDOT from the early design phases to optimize project sequencing and costs, which is expected to enhance overall project efficiency and performance.
- Economic Impact: The I-80 east corridor is a vital economic artery in Nevada, linking the Reno-Sparks area to a rapidly growing industrial center projected to generate 35,000 to 50,000 jobs over the next two decades, thereby further stimulating regional economic growth.
See More
Granite Construction Inc. Secures Approximately $19 Million Preconstruction Services Contract
Construction Agreement: A construction agreement has been established for a project valued at approximately $19 million.
Service Scope: The agreement outlines the services to be provided by the construction company involved in the project.
See More
