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Finance Package Clears Path For North Carolina Turnpike Job

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A joint venture of Archer Western Contractors Ltd., Atlanta, and Watsonville, Calif.-based Granite Construction Co. was awarded a $179-million contract by the North Carolina Turnpike Authority for a major portion of the Western Wake Freeway in North Carolina. The contract covers 40% of the 12.6-mile-long project. The Archer-Granite segment includes construction of 34 bridges, noise and retaining walls and drainage systems. Financing for the project will be provided by a combination of toll revenue bonds, state appropriation bonds and a federal Transportation Infrastructure Finance and Innovation Act loan.

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