Benzinga | Aug 20, 2020 08:37AM EDT

Granite Inliner Awarded Five Trenchless Sewer Lining Contracts Totaling $148M In Chicago

Granite (NYSE:GVA) announced that Granite Inliner, a wholly-owned subsidiary with one of the most comprehensive service portfolios in the piping infrastructure renewal industry, has been awarded five sewer renewal contracts totaling approximately $148 million by the City of Chicago. These contracts will be booked into Granite's third quarter 2020 backlog.

The five contracts, City of Chicago Sewer Lining Term Agreements Area 1 - 5, are part of a multi-year program to renew Chicago's aging sewer system. Cured-in-place pipe (CIPP) lining extends the life of hydraulically adequate sewers at lower cost than excavating and replacing sewers in the streets and is less disruptive to vehicular and pedestrian traffic during construction.

Granite Inliner will be responsible for the CIPP lining of 10-inch to 60-inch diameter sewers, structure rehabilitation and sewer repairs for a total of 575,000 lineal feet. Liner Products, a wholly-owned subsidiary of Granite, will supply all CIPP materials.

"This project marks our fourteenth year partnering with the City of Chicago since the inception of this sewer renewal program," said Granite Inliner Regional Vice President Denise McClanahan. "Granite Inliner takes pride in knowing that our work is helping to protect the city's essential infrastructure and uphold our commitment to sustainable development."

The project is funded by the City of Chicago and Illinois Environmental Protection Agency.

Construction is scheduled to begin in the summer of 2020 and be complete in summer 2022 with an optional one-year extension.