Granite JV Wins $324.8M Big Creek Tunnel Project in Ohio
GVA sits 20% above its 52-week low of $97.26.
Summary
Granite's joint venture with Super Excavators secured a $324.8 million contract from the Northeast Ohio Regional Sewer District for the Big Creek Tunnel project in Cleveland. The project is part of the $3 billion Project Clean Lake program and involves 22,300 feet of 20-foot-diameter tunnel plus ancillary structures. This award adds to Granite's backlog and will be included in third quarter CAP. Construction starts fall 2026 with completion expected winter 2030. The contract is material relative to Granite's annual revenue of over $5 billion and reinforces its position in large-diameter tunneling.
At the time of this announcement, GVA was trading at $116.85 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $97.26 to $162.08. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.