Benzinga | Aug 20, 2021 06:52AM EDT

Granite Bags $25.7M Airfield Safety Enhancement Project At Tucson International Airport

* Granite Construction Inc. (NYSE:GVA) has been awarded the DBB1 contract by the Tucson Airport Authority (TAA) as part of their Airfield Safety Enhancements (ASE) program at Tucson International Airport (TUS), Arizona.

* DBB1 contract, the 14th project at TUS awarded to Granite in the past ten years, is valued at $25.7 million and will be included in Granite's Q3 committed and awarded projects.

* Scope of work includes constructing the new bypass taxiway, including pavement removal, earthwork, electrical, drainage, pavement markings, and landscaping.

* The projected start date is October 2021, with completion expected in January 2023.

* Granite's Swan Plant will provide approximately 45,000 tons of hot mix asphalt, 90,000 tons of aggregate base course, and 15,000 tons of various aggregate for the project.

* Price Action: GVA shares closed lower by 1.47% at $38.09 on Thursday.