Hill International Continues Work as Leader of International Consortium for Infrastructure Projects in the Western Balkans
May 21 2020 - 07:00AM
Hill International (NYSE:HIL), the global leader in managing
construction risk, announced today that it has signed a contract
extending the budget of its ongoing assignment providing technical
assistance services to the European Investment Bank (EIB) for the
implementation of the Infrastructure Project Facility 7 (IPF7) in
the Western Balkans.
In 2018, Hill began leading a consortium of
international companies in the implementation of the IPF7, financed
by the European Commission / Directorate-General for Neighbourhood
and Enlargement Negotiations. With a current budget of over €34.5
million, the project provides a much-needed mechanism to facilitate
the realization of bankable infrastructure investments in the
energy, environmental, social, and transportation sectors in
Albania, Bosnia and Herzegovina, Kosovo, North Macedonia,
Montenegro, and Serbia.
Specific services performed by the Hill-led
consortium include feasibility studies, preliminary and detailed
designs, tendering process support, preparatory sector studies,
preparation of terms of references, and reporting to the Western
Balkans Investment Framework—a regional organization supporting EU
enlargement and socio-economic development in Western Balkans
countries.
“With this extension, the portfolio of IPF7
allocated subprojects will reach 27,” says Hill Vice President and
Managing Director for the Balkans Panayiotis Methenitis. “Of the
total, 13 projects are in the vital, transportation sector. The
other 14 subprojects are spread between the energy, environmental,
and social sectors.”
Hill Chief Executive Officer Raouf Ghali says:
“To take an infrastructure investment from a bright idea through to
a fully operational and sustainable operation, on time and within
budget, requires the highest quality analysis, planning, design,
and supervision in execution. Fortunately, the consortium
implementing the IPF7 consists of a unique blend of leading
international companies and experts in infrastructure. We’re proud
to be collaborating with such a qualified consortium to improve so
many lives in the Western Balkans.”
About Hill International
Hill International, with approximately 2,700
professionals in more than 55 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.
Forward Looking Statements
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 statements of
belief or intent, any statements concerning our plans, strategies,
and objectives for future operations 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 (215) 309-7707
elizabethzipf@hillintl.com
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