Granite Construction Inc. (NYSE: GVA) received a $114 million contract from Caltrans for Segment 4E North of the Highway 101 Carpinteria to Santa Barbara project, according to a company statement.

The project involves replacing existing lanes and adding peak-period carpool lanes between Hermosillo Road and Salinas Street. The work includes reconstructing the Cabrillo Boulevard interchange with two new bridges and right-hand freeway ramps to replace left-hand ramps. A teardrop roundabout will be built on Cabrillo Boulevard at the intersection with Highway 101 northbound ramps.

This represents the seventh and final mainline segment in the Highway 101 Carpinteria to Santa Barbara construction program. Granite serves as construction manager for the entire phase 4 project and previously received the Segment 4E South contract in 2024.

The company has been the construction manager/general contractor for the program since 2018, with construction beginning in 2020. Over seven years, Granite has secured thirteen construction contracts comprising seven mainline and six parallel projects in the 11-mile corridor.

For this segment, Granite's Santa Paula facility will supply 15,700 tons of hot mix asphalt, while an onsite batch plant will produce approximately 7,000 cubic yards of concrete using aggregates from the company's Bee Rock quarry. The project will also generate about 30,000 tons of recycled aggregate base through onsite crushing operations.

Construction is scheduled to begin in April 2026 and conclude in December 2028. The project is part of a multi-year program designed to increase safety and reduce congestion along U.S. Route 101 in Santa Barbara County.