FX.co ★ Granite Construction Secures $27 Mln Contract To Enhance SR 58/SR 99 Interchange In Bakersfield

Granite Construction Inc. (GVA) announced on Tuesday that it has secured a $27 million contract aimed at improving the connectivity and efficiency of the State Route 58/State Route 99 interchange located in Bakersfield.

This project entails widening the bridge over SR 99 and constructing a new bridge over Wible Road. According to the company, the initiative is financially supported by the City of Bakersfield alongside the Thomas Roads Improvement Program.

Construction is projected to begin in November 2024, with an anticipated completion date in May 2026.

As of now, Granite's shares are trading at $83.13 on the New York Stock Exchange, reflecting a decrease of 0.67 percent.