MARLTON, N.J. and MANAMA, Bahrain, May 26, 2009 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been awarded a contract from Bahrain Airport Company S.P.C. to provide project management consultancy services in connection with a major expansion program at Bahrain International Airport (BIA) in Manama, Bahrain. The contract includes a four-year base term with a four-year optional extension period. The contract has a potential estimated value to Hill over its full eight-year term of approximately BHD 13.4 million ($35.6 million).
BIA is experiencing unprecedented growth and is attracting more international airlines to use the airport as a regional transfer and aviation services hub. BIA handled 7.3 million passengers in 2007 and the number of passengers continued its growth in 2008. The expansion program at BIA includes two new passenger terminals, aprons, separate piers, a people mover system and their associated facilities such as car parking, necessary road network expansion and utilities infrastructure. The program also includes the development of an adjacent Airport City with state-of-the-art facilities and infrastructure, including hotels, conference centers, retail, and recreational facilities. Upon completion of the program, total combined capacity at BIA is expected to exceed 30 million passengers per year.
Hill's responsibilities will include planning, time control, time management, preparing and evaluating contractual documents, design overview, value engineering, technical, legal and financial support services, staff augmentation and project administration and coordination in order to achieve an efficient performance of the design and construction of the project.
"BIA plays a significant and integral role in the economic development of Bahrain," said Raouf S. Ghali, President of Hill's Project Management Group (International). "We are honored to be part of their ambitious expansion program," added Ghali.
Hill International, with 2,300 employees in 80 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 11th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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Certain statements contained in this press release 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 contained in this press release, the matters set forth herein including, but not limited to, any projections of 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, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include: modifications and termination of client contracts; control and operational issues pertaining to business activities that we conduct on our own behalf or pursuant to joint ventures with other parties; difficulties we may incur in implementing our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
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