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Granite Awarded $875 Million Joint Venture Design-Build Transit Project in Hawaii

GVA | September 26, 2016

Granite Awarded $875 Million Joint Venture Design-Build Transit Project in Hawaii

Granite Construction Incorporated (NYSE:GVA) announced today that the joint venture (JV) team comprised of Granite Construction Company, Shimmick Construction Co., Inc. and Traylor Bros., Inc. has been awarded the Airport Guideway and Stations Design-Build Contract by the Honolulu Authority for Rapid Transportation. Granite will book its 33% share of the $875 million joint venture project into backlog during the third quarter of 2016.

Scope of the contract includes construction of 5.2 miles of new elevated guideway between Aloha Stadium to the Middle Street Transit Center Station in Honolulu, Hawaii. The JV team is also responsible for construction of the Pearl Harbor Naval Base transit station, two stations near the Honolulu International Airport and the Middle Street station. This is the third guideway project in a series of projects to build a 20-mile light rail transit system for the City and County of Honolulu.

Construction will begin in spring 2017 and is estimated to be complete by 2021. For more information, visit http://www.honolulutransit.org/.

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. 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 seven consecutive years. Granite is listed on the New York Stock Exchange and is part of the S&P MidCap 400 Index, the MSCI KLD 400 Social Index and the Russell 2000 Index. For more information, visit graniteconstruction.com.