November 3, 2009 (FinancialWire) — Granite Construction Inc. (NYSE: GVA) said it has been awarded a $22 million contract by the Gila River Indian Community to construct the final phase of a new 8.5-mile canal around 40 miles southeast of Phoenix.
The canal, called the Santan Canal, is part of the Indian community's master plan to deliver 173,000 acre feet of water to farmlands within the Community.
Through the Pima-Maricopa Irrigation Project, the community's ultimate proposal is to design and construct a water delivery system that will potentially include 2,400 miles of canal and pipeline.
Scope of the project includes earthwork to construct the canal prism, concrete lining and the construction of thirty-five reinforced concrete structures.
Granite will also construct a reservoir and excavate around 344,000 cubic yards of borrow needed to complete the work. The reservoir will be open for community use once the project is completed.
The company said that construction will begin this month with an estimated completion date December 2010.
Watsonville, California-based Granite Construction is a heavy civil contractor and construction materials producer. The company serves public and private sector clients.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
