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Sterling and Granite Joint Venture Awarded $348 Million Progressive Design-Build Project in Utah
THE WOODLANDS, Texas--(BUSINESS WIRE)-- Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that Oak Hills
About this update from Sterling Infrastructure, Inc.
[{"type":"text","content":" THE WOODLANDS, Texas--(BUSINESS WIRE)--\n Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the\n Company”) today announced that Oak Hills Constructors, a joint venture\n between Sterling’s wholly owned subsidiary, Ralph L. Wadsworth, and\n Granite Construction Company, Inc. (“Granite”), has been awarded a $348\n million progressive design-build contract by the Utah Department of\n Transportation (UDOT) for the US-89 Farmington to I-84 project in Davis\n and Weber Counties, Utah.\n \n \n The project will entail the widening of nine miles of US-89 from two\n lanes in each direction to three, the addition of four new interchanges,\n and two grade separated intersections. This includes extending the\n existing frontage road system to help local traffic access new\n interchanges and crossings more efficiently. In addition, crews will\n excavate two million cubic yards of material and relocate 150 miles of\n utilities. Approximately 300,000 tons of hot-mix asphalt and 100,000\n tons of base rock will be provided by Granite facilities.\n \n \n “We look forward to working with Granite on this sizeable project, which\n will improve safety and mobility on a busy stretch of highway north of\n Salt Lake City,” stated Joe Cutillo, Sterling’s CEO. “Sterling and\n Granite have a history of successful joint venture projects and we\n anticipate continued positive results on this job. Importantly, as a\n design-build contract, we were selected for this work based on our\n collective qualifications, as opposed to a low-bid, which reflects our\n level of experience and expertise with large scale heavy civil\n infrastructure improvement. We find design-build project opportunities\n very attractive and expect this type of work to become a greater portion\n of our overall heavy civil revenues in the future.”\n \n \n Mr. Cutillo concluded by saying, “We are very glad to work once again\n with UDOT and are looking forward to the continuation of this\n partnership as we endeavor to upgrade and improve Utah’s transportation\n infrastructure.”\n \n \n Oak Hills Constructors is a 60/40 Granite and Ralph L. Wadsworth joint\n venture. Oak Hill Constructors estimates the project will employ an\n average of 150 people with construction scheduled to begin in early\n 2020. The estimated completion for the project is in 2023. Sterling\n antici...