PHILADELPHIA and MUSCAT, Oman, Nov. 11, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received a contract extension from the Ministry of Transport and Communications and the Public Authority for Civil Aviation of the Sultanate of Oman. This is an extension of the three-year, OMR 41.8 million ($108.5 million) contract to provide consulting engineering services on Muscat International Airport and Salalah Airport awarded to Hill in 2012. The one-year extension has an estimated value to Hill of approximately OMR 30.1 million ($78.2 million).
The expansion of Muscat International Airport, the largest airport in Oman, includes a new terminal that will have a capacity of 12 million passengers annually. The expansion of Salalah Airport, the second largest airport in Oman, involves upgrading it from primarily a domestic airport to make it more suitable for international travelers, including building a new runway long enough to handle the A380 Airbus, and a new terminal that will improve the airport's capacity to one million passengers annually.
"It is an honor to continue to serve the Ministry to help deliver these critical aviation projects," said Mohammed Al Rais, Regional President (Middle East) for Hill's Project Management Group. "Upon completion, they will have an immediate positive impact on both business and tourism in the region," added Al Rais.
Hill International, with 4,800 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 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.
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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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