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Sterling Bags $45M Site Development Contract For Rivian’s Georgia EV Facility

Sterling Infrastructure Inc (NASDAQ:STRL) said its subsidiary, Plateau Excavation of its E-Infrastructure Solutions segment, has been awarded a $45 million design-bid-build…
byShivani Kumaresan
September 22, 2022
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  • Sterling Infrastructure Inc (NASDAQ:STRL) said its subsidiary, Plateau Excavation of its E-Infrastructure Solutions segment, has been awarded a $45 million design-bid-build project.
  • The project was awarded by The Joint Development Authority (JDA) of Jasper, Morgan, Newton and Walton Counties in Georgia.
  • The project is expected to expand Rivian Automotive Inc’s (NASDAQ:RIVN) EV manufacturing operations.
  • The first two phases of site development, which include 500 acres, are located in the East Atlanta Megasite for the Rivian Electric Vehicle (EV) plant.
  • The project is scheduled to run from September 2022 through July 2023.
  • “Our unique capabilities to execute large-scale site development projects now enable us to capitalize on the emerging EV manufacturing, onshoring, and industrial opportunities,” said Sterling’s CEO Joe Cutillo.
  • Price Action: STRL shares closed lower by 0.59% at $23.70 on Wednesday.
 
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