Hill International to Support Key Development on Bosnia and Herzegovina’s Principal Motorway
August 18 2020 - 8:00AM
Hill International (NYSE:HIL) (Hill), the global leader in
managing construction risk, announced today it has been selected by
JP Autoceste FBiH to provide technical assistance to the Project
Implementation Unit (PIU) for the construction of an approximately
5.5 KM motorway between Poprikuše and Nemila in the Mediterranean
Core Network (Corridor Vc).
The Corridor Vc project represents a €188.3
million investment by the European Bank for Reconstruction and
Development and the European Investment Bank. Given the challenging
geotechnical properties of the region, the new motorway will
feature several unique elements, such as the 3.6 KM Golubinja
tunnel, two bridges, two viaducts, an overpass, and a
roundabout.
The project is also a key part of the national
strategy, Framework Transport Strategy of Bosnia and Herzegovina,
which lays out the country’s anticipated transportation-sector
development by 2030. It will facilitate integration of the country
with European economic and social structures and improve the
connection of Bosnia and Herzegovina with neighboring countries,
especially Croatia and Hungary. It will thereby improve the
potential for economic development through trade. Moreover, the
project is expected to create approximately 750 jobs during and
after construction. As the Corridor Vc is the most modern and most
heavily used roadway in the nation, its upgrades will also improve
local traffic conditions. Nearly 169,000 residents will have better
access to education and healthcare as a direct result of this
project.
“The successful implementation of Corridor Vc
projects is vital for the Bosnian economy,” says Hill Vice
President and Managing Director for the Balkans Panagiotis
Methenitis. “Importantly, this Corridor is in the larger network of
Pan-European Corridors. As such, it offers a critical roadway
connection for Central Europe with the rest of the continent. In
this context, being assigned with such a significant advisory role
is an honor.”
As leader of an international consortium, Hill
International will assist the PIU with contract implementation,
administration, and supervision to help ensure that the program is
efficiently carried out in line with all contractual conditions and
technical specifications. Hill will take a proactive role in the
implementation of the project by initiating and coordinating all
activities among other stakeholders to achieve the project’s goals.
Hill will also provide technical assistance to the PIU, including
management of the project, supervision and monitoring services, and
oversight of communications, reporting, and document
preparation.
Raouf Ghali, Hill’s Chief Executive Officer,
says: “In the Balkans, Hill has more than 20 years of experience
implementing infrastructure projects financed by international
funding institutions. Over the years, it has been a privilege for
us to use our global knowledge to support regionally significant
projects and programs. We are committed to remaining a trustworthy
partner for the development of the Balkans.”
About Hill International
Hill International, with approximately 2,700
professionals in more than 65 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 (215) 309-7707
elizabethzipf@hillintl.com
The Equity Group, Inc. Devin Sullivan Senior
Vice President (212) 836-9608 dsullivan@equityny.com
Hill (NYSE:HIL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Hill (NYSE:HIL)
Historical Stock Chart
From Sep 2023 to Sep 2024