Granite (GVA) said Tuesday it was awarded a federally funded $54 million contract for the first phase of a two-part construction project under a construction manager/general contractor contract with the Alaska Department of Transportation and Public Facilities.
The project involves realigning a segment of the Parks Highway to reduce sharp corners and improve traffic safety.
Granite will perform major earthwork, asphalt paving, and implement a full traffic diversion. Construction began May 1 and is expected to finish by September 2027.
The company said the contract value for the second phase is estimated at $35 million.
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