Granite's Lehman-Roberts Selected As A Subcontractor By Dement Construction Co On A Project For The Tennessee Department Of Transportation In The Ongoing Infrastructure Upgrade Project Where Interstate 22 Terminates Into State Route 4 And U.S. Route 78 Southeast Of Downtown Memphis; Portion Of The Contract Is ~$21M And Will Be Included In Granite's Q2 CAP
Granite (NYSE:GVA) announced Lehman-Roberts, a Granite company, has been selected as a subcontractor by Dement Construction Company, LLC on a project for the Tennessee Department of Transportation (TDOT) in the ongoing infrastructure upgrade project where Interstate 22 terminates into State Route 4 (SR 4) and U.S. Route 78 (US 78) southeast of downtown Memphis. Funded by Federal and TDOT funds, Lehman-Roberts' portion of the contract is approximately $21 million and will be included in Granite's second-quarter CAP.
Phase 2, the project's current phase, involves the addition of extra lanes and overpasses spanning approximately two miles to relieve daily traffic congestion and improve overall transportation efficiency. This follows the successful completion of Phase 1, which was also paved by Lehman-Roberts from 2018 to 2023.