PHILADELPHIA and DOHA, Qatar, May 12, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its joint venture with Italferr S.p.A. and ASTAD Engineering Consultancy and Project Management Company has been awarded a contract by Qatar Railways Company to provide project management consultancy services in connection with the Lusail Light Rail Transit (LLRT) system near Doha, Qatar. The four-year contract has an estimated value to the joint venture of approximately QAR 151.6 million ($41.6 million). Hill is a 50% partner in the joint venture.
Lusail City, just north of Doha, is a visionary waterfront development currently under construction. Designed to be an environmental and self-sustaining community, the city will have residential and commercial developments, including schools, medical facilities, shopping centers, and more. In line with the vision of Lusail City, the LLRT network will serve the residents of the city by providing an environmentally-friendly mode of transportation that will not only connect destinations within Lusail, but also to Doha by way of the Doha Metro. The 38.5-kilometer (23.5-mile) tram system will have four lines, 25 stations at-grade and seven underground stations.
“This project will have a major impact on Lusail City and its position as a prominent business and leisure destination in Qatar,” said Mohammed Al Rais, Regional President (Middle East) for Hill’s Project Management Group. “We are honored and excited to be part of this important infrastructure project,” added Al Rais.
Hill International, with 4,600 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the seventh 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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