Granite Secures U.S. 101 Rehabilitation Project in Monterey County, California
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rubberized hot mix asphalttechnical
Rubberized hot mix asphalt is a road-paving material made by blending ground rubber (often from recycled tires) into hot asphalt, producing a more flexible, quieter and longer-lasting pavement. Think of it as adding elastic fibers to a concrete mix so the surface resists cracking and wear. Investors care because it can raise upfront costs but reduce long-term maintenance, improve regulatory and sustainability credentials, and create steady demand for recycling and construction firms.
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Hot mix asphalt is a heated blend of crushed stone, sand and bitumen (a sticky black binder) used to pave roads, parking lots and runways; think of it as a warm, durable road “concrete” made by mixing ingredients while hot so they stick together tightly. Investors watch it because its demand and price track construction and infrastructure spending, energy costs and seasonal production cycles, which affect contractors’ revenues and materials suppliers’ margins.
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WATSONVILLE, Calif.--(BUSINESS WIRE)--
Granite (NYSE:GVA) announced today that it has been selected for a significant infrastructure project to rehabilitate an eight-mile stretch of U.S. Highway 101 near King City in Monterey County, California. This project, with an estimated cost of approximately $20 million, will receive federal funding and be included in Granite’s first quarter CAP.
This initiative will fix roadway issues by restoring pavement, extending service life, updating safety devices, repairing culverts, improving lighting, and enhancing traffic data collection.
“This project reinforces our core strengths and demonstrates the value created through Granite’s strategic acquisition of Papich Construction,” said Granite Vice President of Regional Operations, Larry Camilleri. “It leverages the capabilities, materials, and expertise across multiple Granite regions to deliver high-quality, long-lasting infrastructure for the communities we serve.”
Granite’s Coalinga Asphalt Plant will supply approximately 31,900 tons of Rubberized Hot Mix Asphalt (RHMA) and 5,930 tons of Hot Mix Asphalt (HMA) for the project.
Construction is expected to begin late Q1 2026 and be completed Q1 2027.
About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.
