Granite subsidiary drives off with $39M road upgrade deal in Chicago

ConDig (11-Jul-18).  A subsidiary of civil contractor and construction materials producer Granite Construction Inc has bagged a $39 million contract to revamp the Westbound section of I-90 in Chicago, Illinois.

Under the deal with the Illinois Department of Transportation, Kenny Construction Company will build an auxiliary lane between Canfield Road and Harlem Avenue and a westbound collector-distributor roadway.

It will also widen the mainline pavement, add six new retaining walls and repair five existing retaining walls, as well as resurface the westbound mainline from I-190 to Harlem Avenue.

Construction is slated to begin this summer and set to finish in the summer of 2020.

The I-90 is a major east-west transportation route as a section of it goes between Chicago-O’Hare International Airport and Chicago’s central business district.

California-based Granite posted a net loss of $11.4 million for the quarter ended March 31 compared with a net loss of $23.8 million in the first quarter of last year.

Results for the quarter included the impact of acquisition expenses following Granite’s acquisition of Layne Christensen Co in a stock-for-stock $565 million deal.

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