Hill International/SDPM Joint Venture to Provide Consulting Services on $22 Billion Refinery Projects for Kuwait National Petrol
December 11 2007 - 9:15AM
Business Wire
Hill International (Nasdaq:HINT), the worldwide construction
consulting firm, announced today that the joint venture of Hill and
System Development & Project Management (SDPM) has received a
contract from Kuwait National Petroleum Company (KNPC) to provide
consulting services during the construction of a new refinery
located in the Al-Zour region of Southern Kuwait and during the
Clean Fuels Program of existing refineries located at Mina
Al-Ahmadi and Mina Abdullah. The five-year contract has an
estimated value to Hill exclusive of its joint venture partner of
approximately $20.0 million. The new refinery, which is expected to
cost approximately $15 billion, will be one of the largest in the
world with a refining capacity of 615,000 barrels of oil per day.
Construction is expected to begin in 2008 and be completed by 2013.
The upgrade of the existing refineries in connection with the Clean
Fuels Program is expected to cost approximately $7 billion.
Services to be provided by Hill/SDPM under the contract include
on-call consulting services, contract and commercial management,
interface management, quality assurance and quality control
(QA/QC), and claims avoidance and management services. Hill is a
65% partner in the joint venture and SDPM is a 35% partner. �The
new refinery project at Al-Zour and the Clean Fuels Program for the
existing refineries are large, complex projects whose success is
vitally important to the Kuwaiti petroleum industry,� said Raouf S.
Ghali, President of Hill�s Project Management Group
(International). �We are honored to be participating in such an
important program where our expertise can add significant value to
the construction process and where we can provide KNPC with
significant structured training opportunities,� added Bill Kennedy,
Vice President and Executive Director with Hill�s Construction
Claims Group and Project Director of the KNPC assignment. Hill
International, with 1,500 employees in 70 offices worldwide,
provides program management, project management, construction
management, and construction claims services. Engineering
News-Record magazine recently ranked Hill as the 10th largest
construction management firm in the United States. For more
information on Hill, please visit our website at www.hillintl.com.
This press release may include certain statements that fall within
the definition of �forward-looking statements� under the Private
Securities Litigation Reform Act of 1995. Any such statements are
subject to risks and uncertainties, overall economic and market
conditions, competitors� and clients� actions, and other
conditions, which could cause actual results to differ materially
from those anticipated, including those risks identified in Hill�s
filings with the Securities and Exchange Commission. Accordingly,
such statements should be considered in light of these risks. Any
prediction by Hill is only a statement of management�s belief at
the time the prediction is made. There can be no assurance that any
prediction once made will continue thereafter to reflect
management�s belief, and Hill does not undertake to update publicly
its predictions, whether as a result of new information, future
events or otherwise. (HINT-G)
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