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Benzinga
Benzinga
Business
Akanksha Bakshi

IEA Bags $126M Follow-On Contract From Illinois Department Of Transportation

IEA Illinois IDOT Nasdaq
  • Infrastructure & Energy Alternatives Inc (NASDAQ:IEA) has secured a $126 million follow-on contract from the Illinois Department of Transportation (IDOT).
  • IEA received the initial $126 million contract in July 2021, with work under the contract's first phase on track to be completed in November 2023.
  • White Construction and William Charles Construction, wholly-owned IEA subsidiaries, will execute the project.
  • The project covers phase two of the reconstruction of the I-57 and I-74 interchange in Champaign County, Illinois. It includes pavement reconstruction, lane additions, and replacement of existing bridges.
  • Work is expected to begin in July 2022, with an estimated completion date in June 2024.
  • Price Action: IEA shares are trading higher by 1.81% at $8.99 on the last check Thursday.
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