TxDOT Selects Granite Joint Venture Bid as Best Value for IH-35E Project in Dallas

  TxDOT Selects Granite Joint Venture Bid as Best Value for IH-35E Project in
  Dallas

Business Wire

WATSONVILLE, Calif. -- December 13, 2012

Granite Construction Incorporated (NYSE: GVA) announced today that the Texas
Department of Transportation (TxDOT) selected AGL Constructors (AGL), a joint
venture comprised of Archer Western Contractors, LLC, Granite Construction
Company and Lane Construction Corporation, as the best value proposer for the
IH-35E project in Dallas and Denton counties in North Texas. AGL’s proposed
price for the design-build project is $849 million for the base contract, plus
options which, if exercised by TxDOT, may increase the total contract price to
approximately $1.2 billion. The selection was announced by TxDOT today at a
monthly Texas Transportation Commission meeting.

Today’s selection enables AGL and TxDOT to commence contract negotiations. A
notice to proceed is expected in the first quarter of 2013. Granite will book
its 35 percent share of the project into backlog once a final contract is
approved and a notice to proceed is issued.

Scope of the project includes rebuilding 28.2 miles between IH-635 and US 380
between Dallas and Denton Counties, a section known as one of Texas’ 100 most
congested roadways. In various segments, the project will add two reversible
managed lanes and one additional general purpose lane in each direction. The
project will also add a new southbound bridge at Lake Lewisville that will
offer more reliability for commuters during major incidents.

Construction is expected to begin in 2013 and take approximately 3.5 years to
complete.

About Granite

Granite is one of the nation’s largest infrastructure contractors and
construction materials producers serving public- and private-sector clients
nationwide. In addition, Granite has one of the oldest and most robust ethics
and compliance programs in the industry. In 2012, the Company was recognized
by the Ethisphere Institute as one of the World’s Most Ethical Companies for
the third year in a row. For more information please visit
www.graniteconstruction.com.

Contact:

Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
 
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