Knife River Corp., a subsidiary of MDU Resources Group Inc. (NYSE: MDU),
has received a $51 million North Dakota highway construction contract
for a bypass project on Highway 85. This is the largest road
construction contract Knife River has been awarded in the state.
“Our growing backlog, along with our strong results this year, leads us
to believe the construction industry is seeing signs of a sustained
recovery,” said David C. Barney, president and CEO of Knife River. “We
believe work in many of our markets is picking up, and we continue to
see more private projects being offered for bid. We are well-positioned
to take on this additional work.”
“This contract is a testament to Knife River’s capabilities. Crews from
our North Dakota operations and our Idaho operations will be working on
this project, which makes it another good example of our ability to
bring together expertise from various divisions,” said David L. Goodin,
president and CEO of MDU Resources. “All of our businesses, including
Knife River, continue to see growth in the region surrounding the Bakken
oil play.”
Knife River plans to begin work on the Highway 85 bypass contract next
week and is expecting this year to complete about 1.5 miles of the
approximately eight-mile project. Knife River will start construction
again in the spring as weather allows and expects to complete the
project in the fall of 2014.
MDU Resources Group, Inc., a member of the S&P MidCap 400 index,
provides value-added natural resource products and related services that
are essential to energy and transportation infrastructure, including
regulated utilities and pipelines, exploration and production, and
construction materials and services. For more information about MDU
Resources, see the company's website at www.mdu.com
or contact the Investor Relations Department at investor@mduresources.com.
Knife River Corporation mines aggregates and markets crushed stone,
sand, gravel and related construction materials, including ready-mix
concrete, cement, asphalt, liquid asphalt and other value-added
products. It also performs integrated construction services. For more
information about Knife River, visit the company’s website at www.kniferiver.com.
Copyright Business Wire 2013