Benzinga | Jul 20, 2021 03:22PM EDT

IEA Bags $126M Construction Project With Illinois Department Of Transportation

* Infrastructure And Energy Alternatives Inc (NASDAQ:IEA) has been awarded a $126 million construction contract from the Illinois Department of Transportation (IDOT).

* The contract is to reconstruct the I-57 and I-74 interchange and replace the existing, full cloverleaf interchange with a semi-directional interchange composed of two-directional flyovers, two-loop ramps and two outer ramps in Champaign-Urbana, Illinois.

* This project is part of the Rebuild Illinois capital program.

* Work on the project is expected to begin in August 2021 and to be completed in November 2023 and will be performed by IEA's William Charles Construction and White Construction subsidiaries.

* Price action: IEA shares traded higher by 5.84% at $11.97 on the last check Tuesday.