THE WOODLANDS, Texas - Sterling Infrastructure, Inc. (NASDAQ:STRL), a construction company specializing in transportation and building solutions, has secured two major highway project awards in Nevada, totaling $78 million.
These projects were granted by the Nevada Department of Transportation and are part of the company's fourth quarter 2023 backlog.
The larger of the two projects, valued at $49 million, is the NDOT 3996 Lohantan project, which entails widening and reconstructing 17 miles of highway. This project also includes new bridge construction and the implementation of new drainage systems.
Sterling's subsidiary, Road and Highway Builders, LLC, will manage the project, which will feature an on-site portable asphalt plant and aggregate crushing plant. Work on this project is set to commence in late February and is anticipated to conclude in 2024.
The second project, the NDOT 4501 Tonopah project, comes with a $29 million price tag and involves widening and reconstructing 15 miles of highway as well as installing new water and sewer facilities for the town of Tonopah.
Similar to the Lohantan project, this endeavor will also employ a portable asphalt plant and aggregate crushing plant on site. The Tonopah project is expected to begin in March and to be completed within the same year.
Joe Cutillo, CEO of Sterling Infrastructure, expressed satisfaction with the awards, citing the company's strategic aggregate pit locations in Nevada and its longstanding relationship with NDOT as advantageous for participation in the state's multi-year infrastructure upgrade programs.
Sterling operates in the United States through its subsidiaries, engaging in large-scale site development services for various sectors, including transportation infrastructure and rehabilitation projects for highways, roads, bridges, and more. The company emphasizes its commitment to sustainability and responsible operations.
These recent awards by NDOT underscore Sterling's ongoing involvement in infrastructure development within Nevada. This news is based on a press release statement from Sterling Infrastructure, Inc.
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