11-06-2017

Granite-Parsons-Corman Team Awarded $410 Million Interstate Widening and Bridge Project in Virginia

WATSONVILLE, CA (November 6, 2017) – Granite Construction Incorporated (NYSE:GVA), Parsons Corporation, and Corman Construction Inc., announced today that their joint venture team has been awarded the Interstate 64 (I-64) Southside Widening and High Rise Bridge, Phase 1 design-build contract by the Virginia Department of Transportation. Granite booked its 50% share of the $410 million joint venture project into backlog during the third quarter of 2017.

The joint venture team will be responsible for widening approximately eight miles of I-64 in Chesapeake from four to six lanes, providing motorists the addition of a managed lane in each direction. The project also includes extensive environmental protections to the adjacent wetland and the Elizabeth River, new fender systems, navigation improvements as well as the reconstruction and widening of four bridges.
The project is designed to increase capacity and mobility in the region. The project will also improve safety by reducing congestion, while minimizing the impact to the traveling public during construction. For more information on the project, please visit the Virginia Department of Transportation website.

Construction is scheduled to begin in November 2017 and conclude in July 2021.

About Granite
Through its offices and subsidiaries nationwide, Granite Construction Incorporated (NYSE:GVA) is one of the nation’s largest infrastructure contractors and construction materials producers. Granite specializes in complex infrastructure projects, including transportation, industrial and federal contracting, and is a proven leader in alternative procurement project delivery. Granite is an award-winning firm in safety, quality and environmental stewardship, and has been honored as one of the World’s Most Ethical Companies by Ethisphere Institute for eight consecutive years. Granite is listed on the New York Stock Exchange and is part of the S&P MidCap 400 Index, the MSCI KLD 400 Social Index and the Russell 2000 Index. For more information, visit graniteconstruction.com.

Granite Construction Incorporated Contacts
Media
Jacque Fourchy
+1 831-761-4741

Investors
Ronald Botoff
+1 831.728.7532

About Parsons
Parsons is a technology-driven engineering services firm with more than 70 years of experience in the engineering, construction, technical, and professional services industries. The corporation is a leader in many diversified markets with a focus on infrastructure, defense, security, and construction. Parsons delivers design/design-build, program/construction management, systems design/engineering, cyber/converged security, and other professional services packaged in innovative alternative delivery methods to federal, regional, and local government agencies, as well as to private industrial customers worldwide. For more about Parsons, please visit www.parsons.com.
Media Contact
Erin Kuhlman
+1 626.440.4590
erin.kuhlman@parsons.com

About Corman
Based in Annapolis Junction, MD, Corman Construction is a fourth-generation family-owned and operated heavy civil construction company. Since its founding nearly a century ago as a Washington, D.C., area contracting company, Corman has evolved into an industry leader throughout the Mid-Atlantic region, specializing in design-build, highway construction, bridge construction/rehabilitation, underground utility work, tunnel and marine construction.

Corman and Granite joined forces on the VA Approach Spans VAC contract for the high-profile Woodrow Wilson Bridge project and were joint venture partners on Maryland’s Design-Build Intercounty Connector, Contract A where Parsons was the Lead Designer.

Corman also partnered with Parsons on Virginia’s first Diverging Diamond Interchange and most recently on Virginia’s first Continuous Flow Intersection.

For more information, please visit www.cormanconstruction.com.

Media Contact
Louis Robbins, PE, DBIA
+1.703.772.8566

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