PHILADELPHIA and BUCHAREST, Romania, Oct. 18, 2017 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its subsidiary, Hill International N.V., will provide management consulting services to CFR S.A. for the rehabilitation of the Frontiera - Curtici - Simeria Railway Sector, part of the Pan-European Transport Corridor IV, Section 3, Lot 4 (Gurasada - Simeria). Hill will lead a joint venture with Proiect Consulting, Hill International (
Bucharest) S.R.L. and S.C. Proiect Consulting S.R.L. of Romania. The contract has a value of EURO 2.35 million with VAT (EURO 1.9 million without VAT). The project duration entails 36 months of construction and a defects notification period of 24 months.
Corridor IV is one of the Pan-European transport corridors, crossing Europe from West to East with stops in Nürnberg, Praga, Viena, Budapesta, Curtici, Simeria, Braşov, Bucureşti and Constanţa. Financed by the European Union and local authorities, the project will prepare the railway in Hunedoara County to accommodate maximum train speeds of 160 km/h. Work involves the rehabilitation and modernization of the 41km railway, 17 bridges, 27 culverts, 4 overpasses and 3 underpasses, 4 rail stations and the implementation of the European Railway Traffic Management System (ERTMS).
"We are proud to have helped deliver large infrastructure development in Romania for almost 20 years, and look forward to supporting such an important rail program
for the country," says Panagiotis Methenitis, Hill's VP and Managing Director, Balkans Region. "This project is diversifying Hill's portfolio and will be a strong base for future investment in Romania and the Balkans region."
Hill International (NYSE:HIL) with more than 3,000 professionals in more than 50 offices worldwide, provides program management, project management, construction management and other consulting services to clients in a variety of market sectors. 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.
Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President
Hill International, Inc.
One Commerce Square
2005 Market Street, 17th Floor
Philadelphia, PA 19103
John Glenn Grau
Source: Hill International, Inc.
News Provided by Acquire Media