Sterling Construction Company, Inc. Selected as Part of JV with Steve P. Rados, Inc. on Wastewater Project in Modesto, Califo...
September 26 2016 - 8:45AM
Business Wire
Sterling’s Portion of
Project Valued at $20 Million
Sterling Construction Company, Inc. (NasdaqGS:STRL) (“Sterling”
or the "Company”) today announced that its affiliate, Myers &
Sons Construction (“Myers”), was selected as part of a joint
venture with Steve P. Rados, Inc. (“Rados”), by the City of
Modesto, California for the design and construction of a major
wastewater recycling system for the Del Puerto Water District
(“DPWD”). Sterling’s portion of the $40 million project is
approximately $20 million.
The joint venture construction management/general contractor
team (CM/GC) will be responsible for the design and construction of
11 specific project elements. When complete, the project will
deliver up to 35,000 acre feet per year of recycled water directly
to the Delta-Mendota Canal, which will then be conveyed to DPWD
customers or stored within Reclamation's Central Valley Project
(CVP) system during low water demand periods.
Construction is scheduled to begin in late 2016 with completion
by December 2017. For more information visit the North Valley
Regional Recycled Water Program webpage.
Paul J. Varello, Sterling’s Chief Executive Officer, commented,
“We are very pleased to have been selected for this very important
and innovative project which will represent the future of water
supply management programs for many years to come. The project will
address two critical objectives. First, it will serve as a regional
solution to address water supply shortages within DPWD’s service
area and second, the project will allow the city of Modesto to
permanently discontinue its practice of discharging treated
effluent into the San Joaquin River. We believe that our growing
experience in the development of water infrastructure projects
positions us well to participate in similar projects in the coming
years as water shortages become even more pronounced throughout the
United States.”
Sterling is a leading heavy civil construction company that
specializes in the building and reconstruction of transportation
and water infrastructure projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii, and other states in which there are
construction opportunities. Its transportation infrastructure
projects include highways, roads, bridges, airfields, ports and
light rail. Its water infrastructure projects include water,
wastewater and storm drainage systems.
This press release includes certain statements that fall within
the definition of “forward-looking statements” under the Private
Securities Litigation Reform Act of 1995. Any such statements are
subject to risks and uncertainties, including overall economic and
market conditions, federal, state and local government funding,
competitors’ and customers’ actions, and weather conditions, which
could cause actual results to differ materially from those
anticipated, including those risks identified in the Company’s
filings with the Securities and Exchange Commission. Accordingly,
such statements should be considered in light of these risks. Any
prediction by the Company is only a statement of management’s
belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter to
reflect management’s belief, and the Company does not undertake to
update publicly its predictions or to make voluntary additional
disclosures of nonpublic information, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160926005214/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
281-951-3560Director of Investor RelationsorInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore,
212-836-9607orKevin Towle, 212-836-9620
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