PHILADELPHIA and NEW YORK, Sept. 12, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that the company has been awarded a contract by the National Railroad Passenger Corporation (Amtrak) to provide program management support services in connection with the Gateway Program. The initial three-year contract has an estimated value to Hill of approximately $10.0 million.
The Gateway Program is a proposed set of strategic rail infrastructure improvements designed to improve current services and create new capacity that will allow the doubling of passenger trains running under the Hudson River. The program will increase track, tunnel, bridge and station capacity, eventually creating four mainline tracks between Newark, New Jersey and Penn Station in New York City, including a new, two-track Hudson River tunnel.
The program also includes updates to, and modernization of, existing infrastructure, such as the electrical system that supplies power to the roughly 450 weekday trains using this segment of the Northeast Corridor, and rebuilding and replacing the damaged components of the existing, century-old Hudson River tunnel, which was inundated with seawater during Super Storm Sandy. By eliminating the bottleneck in New York and creating additional tunnel, track, and station capacity in the most congested segment of the Northeast Corridor, the Gateway Program will provide greater levels of service, increased redundancy, added reliability for shared operations, and additional capacity for future increases in commuter and intercity rail service.
“We are very excited to be involved in helping Amtrak to manage this critically-needed infrastructure program,” said John Milano, P.E., Senior Vice President and Northeast Regional Manager for Hill’s Project Management Group.
Hill International, with 4,500 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 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
(HIL-G)