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Sterling and SEMA, Inc. Joint Venture Awarded $35.7 Million Project in Colorado
January 7, 2021 GMT
THE WOODLANDS, Texas (BUSINESS WIRE) Jan 7, 2021
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that a joint venture between Sterling’s subsidiary, Ralph L. Wadsworth Construction Company, LLC (“RLW”/51% interest) and SEMA, Inc. (“SEMA”/49% interest), have been selected by the Colorado Department of Transportation (“CDOT”) to design and perform rehabilitation work on Colorado’s I-25 from SH66 to SH402. The design finalization and execution of the project is estimated to approximate $35.7 million with Sterling’s portion approximating $18 million. The project commenced in December 2020 and is expected to be completed in the second quarter of 2023.