Jul 28 2015
Sterling Construction Company, Inc. today announced that it was awarded $26.3 million project by the Harris County Toll Road Authority in Houston. The project consists of work on the Hardy Toll Road, where Texas Sterling will replace conventional toll collection facilities with automated ‘toll tag’ facilities.
Approximately 35% of the project will be performed by pre-qualified subcontractors covered by surety bonds, which helps to guarantee performance and completion as specified in the contract terms, and reduces construction-related risk to the project owner and to Sterling. In addition, the project scope includes enhancements to exit and entrance ramps and is expected to commence in August 2015 and be completed by October 2016 with incentives for early completion.
“We have completed several successful construction contracts with the HCTRA in the past and are pleased to have the opportunity to do so again,” commented Mark Buchanan, President of Sterling’s Texas subsidiary. “This job is representative of a growing number of toll road opportunities, which are not influenced by government budgetary constraints, but rather by roadway usage and toll revenue. We view this as a very favorable trend given the increasing population of the Houston area, and of other metropolitan areas of Texas.”
Paul Varello, Sterling’s Chief Executive Officer, added, “We are very excited about the momentum we are achieving on new awards in Texas. We are experiencing positive results in our present backlog and expect solid execution on the several sizeable projects we have recently announced, along with other projects in our backlog to yield strong year-over-year margin improvement in the second half of 2015 and into 2016.”
Sterling is a leading heavy civil construction company that specializes in building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii, and other states where there are profitable construction opportunities. Its transportation infrastructure projects include highways, roads, bridges, airfields and light rail. Its water infrastructure projects include water, wastewater and storm drainage systems.
Source: http://www.strlco.com/