MARLTON, N.J. and SAMAWAH, Iraq, Dec. 5, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received a contract from the Iraq Ministry of Youth and Sports to provide design review and construction management services in connection with the Al Samawah Olympic Stadium in Samawah, Iraq. The 28-month contract has an estimated value to Hill of approximately IQD 2.6 billion ($2.2 million).
The new Olympic-sized, 20,000-seat stadium, which will be designed to comply with FIFA standards, is expected to have a construction cost of approximately IQD 70.9 billion ($61.0 million). This is the third sports stadium in Iraq whose construction is being managed by Hill.
"The Ministry of Youth and Sports continues to show confidence in Hill and that makes me very proud of our team in Iraq," said Mohammed Al Rais, Senior Vice President and Managing Director (Middle East) for Hill's Project Management Group.
Hill International, with 4,000 employees 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 9th 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. We do not intend, and undertake no obligation, to update any forward-looking statement.
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Hill International, Inc. John P. Paolin Senior Vice President of Marketing and Corporate Communications (856) 810-6210 The Equity Group Inc. Devin Sullivan Senior Vice President (212) 836-9608
