PHILADELPHIA and CARTAGENA BAY, Colombia, June 08, 2017 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its joint venture with Gomez Cajiao Y Asociados S.A. has received a contract from Compañía de Puertos Asociados S.A. (COMPAS) to provide project management services in support of the COMPAS Terminal Expansion in Cartagena, Colombia. The three-year contract has an estimated value to the joint venture of approximately $4.1 million. Hill is a 40% partner in the joint venture.
The COMPAS Terminal Expansion is located at Cartagena Bay, on the north coast of Colombia. The expanded terminal will have a maximum annual capacity of 600,000 TEU (containers) and 900,000 MT of general cargo. It will have a 550-meter quay capable of handling post panamax container vessels and a 220-meter quay for general cargo capable of receiving panamax vessels. The dredged depth will be increased to 14.5 meters (47.6 feet) and new ship-to-shore cranes will be installed. An additional 46,700 square meters (502,675 square feet) will be added to the container yard and the terminal buildings will be relocated and expanded. The new terminal will be multipurpose and comply with APMT requirements.
Hill’s scope of services includes project management, procurement management, design review, project controls, contract management, health and safety management and quality assurance/quality control.
“The COMPAS terminal expansion will have a significant impact not just on Colombian trade, but on trade throughout South America,” said Luis Lugo Jr., Hill’s Senior Vice President and Regional Manager (Southeast/Caribbean/Latin America). “This is Hill’s first major assignment in Colombia and we are excited to be part of such an important initiative,” added Lugo.
Hill International, with 3,300 professionals in more than 50 offices worldwide, provides program management, project management, construction management and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the eighth largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(215) 309-7710
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
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