MARLTON, N.J. and SEATTLE, Jan. 5, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received a contract from the Central Puget Sound Regional Transit Authority (Sound Transit) to provide design-build project management services in connection with the E360 Segment of the East Link Light Rail project. Phase I of the contract for pre-construction phase services is for approximately $1.0 million over a one-year period. Phase II of the contract for construction phase services, if exercised by Sound Transit, is anticipated to have an estimated value to Hill of approximately $21.0 million over a subsequent four-year period, for a total contract value of approximately $22.0 million.
The E360 Segment, the terminal segment of the East Link Light Rail extension, is a 1.8-mile line stretching from East Bellevue to the main Microsoft campus in Redmond. The alignment includes aerial guideway, at-grade and retained cut sections, and features two new platform stations, two pedestrian bridges and a 300-vehicle parking garage. The estimated civil construction cost of the project, which is expected to be completed in late 2019, is approximately $200 million to $250 million.
Hill will provide project management services on the design-build project that will be executed in two phases. During the preconstruction phase (Phase I), Hill will provide support to Sound Transit through the procurement of the design-build contractor, including reviewing and modifying the RFP and design-build contract and reviewing the preliminary designs of the short-listed teams. During the construction phase (Phase II), Hill will continue to provide review services during the development of the design and expand services to include project management, estimating, scheduling, quality control, inspection, safety and commissioning.
"The impact of the East Link Extension is enormous, as it will provide a reliable connection from the Eastside's biggest residential and commercial centers to downtown Seattle, Sea-Tac Airport and the University of Washington," said Michael B. Smith, Senior Vice President and Western Regional Manager for Hill's Project Management Group. "We are honored that Sound Transit has chosen Hill to assist with this important infrastructure project," added Smith.
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 ninth 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 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.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(856) 810-6210
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
(HIL-G)
