Granite Construction awarded $27M joint venture Navy contract
Granite Construction and Healy Tibbitts Builders announced that their joint venture team has been awarded a $27M joint venture contract by the Naval Facilities Engineering Command Southwest for the construction of maintenance dredging at Piers 1, 3, and Paleta Creek at Naval Base San Diego. The contract includes one unexercised option, which if exercised would increase the cumulative award value to $38M. Granite will book $21M, or its 78% share, of the $27M contract in its Q2 backlog. The project will re-establish the operational and berthing depth required for United States Navy vessels and other visiting vessels, and restore the pier slips and creek area for safe and unrestricted navigation. The dredged material will be screened for unexploded ordnance and radiological debris, dried or dewatered prior to transport for disposal at a commercial landfill. Construction is scheduled to begin in summer 2019 and be complete in fall 2021.