Granite Construction Incorporated (NYSE:GVA) today announced financial
close and contract signing for the I-4 Ultimate project in Florida. The
construction joint-venture team comprised of Skanska USA Civil
Southeast, Inc., Granite Construction Company and the Lane Construction
Corporation is part of the I-4 Mobility Partners team—the concessionaire
selected by the Florida Department of Transportation (FDOT) as the best
value proposer for this public-private partnership contract. Granite
will book its 30 percent share of the $2.32 billion design and
construction contract into backlog in the third quarter of 2014.
The I-4 Ultimate project is a public-private partnership concession
agreement to design, build, finance, operate and maintain 21 miles of
I-4 from west Kirkman Road in Orange County to east of State Road 434 in
Seminole County. The I-4 Ultimate project includes reconstructing 15
major interchanges; constructing more than 140 bridges; adding four
variable priced toll Express Lanes in the median; and completely
rebuilding the general use lanes along the entire corridor. The express
lanes will be operated with variable tolls which will be adjusted to
improve traffic flow throughout the corridor. FDOT will retain the
revenue and will control the toll rates.
Construction will begin in the first quarter of 2015 and is estimated to
be completed by 2021. The concession length is 40 years. For more
information, visit www.I4Ultimate.com.
About Granite
Through its offices and subsidiaries nationwide, Granite Construction
Incorporated (NYSE: GVA) is one of the nation’s largest infrastructure
contractors and construction materials producers. Recognized as one of
the top 25 largest construction companies in the U.S., Granite
specializes in complex infrastructure projects, including
transportation, industrial and federal contracting, and is a proven
leader in alternative procurement project delivery. Granite is an
award-winning firm in Safety, Quality and Environmental Stewardship, and
has been honored as one of the World’s Most Ethical Companies by
Ethisphere Institute for five consecutive years. For more information,
visit www.graniteconstruction.com.
Note to editors: High-resolution images are available for
download at www.I4Ultimate.com.
For I-4 Ultimate media inquiries, contact Steve Olson, (386) 943-5479 or steve.olson@dot.state.fl.us
Copyright Business Wire 2014