PHILADELPHIA and ATHENS, Greece, July 07, 2017 (GLOBE NEWSWIRE) -- Hill International (NYSE: HIL ), the global leader in managing construction risk, announced today that it has received a contract to provide construction supervision services in support of a €350 million ($399 million) Capital Expenditure Program for the Piraeus Port Authority in Greece. The four-year contract has an estimated value to Hill of approximately €2.4 million ($2.7 million).
The Port of Piraeus is the largest port in Greece, the largest passenger port in Europe and the third busiest port in the world. Spanning more than 27 kilometers (16.7 miles) along the coast, it has an aggregate area exceeding 5 million square meters (53.8 million square feet). The Capital Expenditure Program entails upgrading and expanding the port’s infrastructure, including a new cruise terminal, dredging projects and facilities improvements. The Program, expected to be complete by August 2021, will elevate the Port’s status as a key transportation hub in Europe, triggering further investments into other sectors of the economy. Hill was appointed as the Port Authority’s Independent Engineer, monitoring all aspects of the implementation of the Capital Expenditure Program.
“This is a major foreign direct investment and a project of national significance for Greece,” said Emmanouil Sigalas, Vice President with Hill International. “We are honored by this appointment and we look forward to supporting its delivery,” added Sigalas.
Hill International, with 3,300 professionals in more than 50 offices worldwide, provides program management, project management, construction management 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
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