Hill International (Nasdaq:HINT), the worldwide construction consulting firm, announced today that it has been awarded a new contract by the Al Ain Municipality to provide project management services on the AED 600 million ($163 million) implementation of an Irrigation Master Plan for Al Ain, United Arab Emirates. The five-year contract has an estimated value to Hill of approximately AED 23.5 million ($6.4 million). The new irrigation networks will serve the municipality�s and the surrounding region�s proposed reservoirs until the year 2020. The current pumping and irrigation zones are to be re-grouped in such a way that Al Ain will be divided into eighteen zones, and the region outside the city will have eleven zones. Each of these zones will be equipped with a reservoir which can store at least a day�s supply of water, a pumping station and a central irrigation control system. With the construction of 21 new reservoirs, the Al Ain region will have a total of 30 main reservoirs and pumping stations. The remaining small pumping system and irrigation tanks will be demolished as the project progresses, but the supply of water will continue from alternative sources. Construction is expected to begin in January 2009 and conclude by January 2013. �This irrigation program is a critical improvement to Al Ain�s water infrastructure,� said Raouf S. Ghali, President of Hill�s Project Management Group (International). �We look forward to helping our client complete this important program,� Ghali added. 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)
Hill Intl (MM) (NASDAQ:HINT)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Hill Intl (MM) Charts.
Hill Intl (MM) (NASDAQ:HINT)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Hill Intl (MM) Charts.