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LAS VEGAS - Granite (NYSE:GVA), a construction company with a market capitalization of $4.1 billion and annual revenue exceeding $4 billion, has been awarded two work packages valued at approximately $160 million and $70 million under a $230 million Construction Manager at Risk contract for the Garnet Valley Wastewater System project, according to a company press release. InvestingPro data shows the company has delivered an impressive 40% return over the past year.
The Southern Nevada Water Authority (SNWA) awarded the contract as part of a broader $900 million infrastructure initiative at the Apex Industrial Park, developed with the City of North Las Vegas. The awards were included in Granite’s fourth quarter 2024 CAP. According to InvestingPro analysis, Granite maintains a strong financial health score and has consistently paid dividends for 36 consecutive years, demonstrating its stability in infrastructure projects.
The project aims to support Southern Nevada’s water recycling efforts, which currently treat and recycle 99 percent of indoor water use in its service area. Treating wastewater and returning it to Lake Mead provides return-flow credits that extend the region’s water resources and reduces demand on the Colorado River.
Construction work includes installing five miles of gravity wastewater pipeline, 11 miles of force-main, three large lift stations, and integration with City of North Las Vegas treatment facilities.
"Granite is well-positioned to deliver a successful project based on its nearly 30-year history in Las Vegas and its vast amount of collaborative delivery experience," said Chris Burke, Granite Vice President of Regional Operations.
Construction began in June 2025 and is expected to be completed in December 2027.
Granite, incorporated since 1922, describes itself as one of the largest diversified construction and construction materials companies in the United States.
In other recent news, Granite has been awarded several significant contracts, including a $158 million task order from the Naval Facilities Engineering Command for missile defense infrastructure construction in Guam. Additionally, Granite secured a $111 million contract from the Utah Department of Transportation for an infrastructure rehabilitation project in Salt Lake City, covering 3 miles of Interstate 215 and 22 bridges. The company also received a $17 million contract for a bridge replacement project in Riverdale, Utah, from the same department. In corporate developments, Granite announced the retirement of James Radich as Executive Vice President and Chief Operating Officer. Mr. Radich will remain involved with the company through a consulting agreement. Furthermore, Granite has formed a joint venture with Contri Construction Company for the Southern Nevada Water Authority’s Paradise Hills Construction Manager at Risk Project. This venture will handle the preconstruction phase, including the installation of a large steel water pipeline and a new pumping station. These developments highlight Granite’s ongoing involvement in major infrastructure projects and corporate transitions.
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