Granite Awarded $59 Million Airport Project in Los Angeles

Granite Construction Incorporated (NYSE:GVA) announced today that it has been awarded a $59 million sub-contract by the Turner/PCL Joint Venture for the Midfield Satellite Concourse North Project at the Los Angeles International Airport (LAX) in California. Approximately $16 million was booked into backlog in the fourth quarter of 2016 and $43 million in the first quarter of 2017.

Granite’s scope of work includes demolition of over 80,000 cubic yards of existing portland cement concrete and asphalt surfaces, demolition of over 13,000 feet of existing utilities, over 350,000 cubic yards of mass grading, structural excavation and backfill, and installation of over 28,000 feet of new domestic and fire water, storm drain, sanitary sewer, and natural gas utilities, along with nearly 3,000 cubic yards of utility structures including the construction of five pump stations.

The approximately $1.6 billion Midfield Satellite Concourse Project will expand LAX’s capacity to serve international travelers in and out of the Tom Bradley International Terminal. Construction is currently underway with Granite’s portion of the work scheduled to be complete by December 2019.

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 eight 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.

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Granite Construction IncorporatedMediaJacque Fourchy, 831-761-4741orInvestorsRonald Botoff, 831-728-7532