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Southeastern Pennsylvania Transportation Authority (SEPTA) recently awarded a $139.7 million contract to joint venture Granite Construction Co. and Neshaminy Constructors Inc. to demolish and rebuild a portion of the Market Street elevated transit system.

The construction contract is the authority’s largest-ever, according to a prepared statement.

Expected to be complete in July 2008, the project includes replacing 3,600 linear feet of elevated guideway on Market Street and constructing four new stations. Work also includes installing new curbs, sidewalks, pavement, water distribution systems, sanitary sewer and storm drainage systems, track with continuous welded rail, electric traction power, train-detection and signal systems, and lighting and signage.