Thessaloniki Port Authority S.A. Selects Consortium led by Hill International as Designer and Project Manager for Major Port...
September 05 2019 - 2:20PM
Hill International (NYSE:HIL), the global leader in managing
construction risk, announced today it has signed an agreement with
the Thessaloniki Port Authority S.A. (THPA) as leader of a
consortium including Rogan Associates SA, to provide design and
project management services for the planned expansion of the marine
works infrastructure of Pier 6.
The Port of Thessaloniki is the most important
port of Northern Greece and a key transportation hub for Southeast
Europe as a part of the Core Network of the Trans-European
Transport Network. It occupies a total area of approximately 1.5
million square meters and hosts a variety of activities, including
servicing of all types of cargo, ferry/passenger shipping, and
cruises, as well as the Port of Thessaloniki free zone operating
under applicable tax and customs legislation.
Following an international privatization process
that was concluded in March 2018, the Hellenic Republic Asset
Development Fund entered into a Shares Purchase Agreement with a
group of international investors (South Europe Gateway Thessaloniki
(SEGT) Limited) for the acquisition of 67% in the share capital of
THPA. Pursuant to the terms of the relevant Concession Agreement,
THPA is required to implement a minimum of €180M ($203M) capital
expenditure program to upgrade the port. The main project relates
to the expansion of the marine works infrastructure of Pier 6.
More specifically, the project involves the
construction of one new additional quay wall with a minimum
continuous length of 440 meters, out of which at least 400 meters
provide a minimum draught of -17.60 meters MSL (Mean Sea Level);
construction of additional yard area; construction of all
complementary infrastructure works needed for the full operation of
both the new quay wall and the corresponding yard, including
dredging of navigation channel and ship maneuvering area at a
minimum water depth of -17.60 m MSL; pavements at the yard area;
and utilities networks. The overall duration of the project is 46
months and services to be provided by the consortium include the
update and preparation of the detailed design, management of the
construction procurement tender, and project management/supervision
during construction.
“The upgrade of the Port of Thessaloniki is an
investment of particular significance for the city, but also
fostering cross-border synergies in Southeast Europe and promoting
regional growth,” said Manolis Sigalas, Hill’s Vice President and
Managing Director for Southern Europe. “This award augments our
global port projects portfolio and is reflective of our distinct
capabilities in the region. We are truly honored and, together with
our partners, we look forward to working hard with all stakeholders
involved for the project’s successful delivery”.
About Hill International
Hill International, with approximately 2,700
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.
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
Hill International, Inc. Todd Weintraub Senior
Vice President and Chief Financial Officer (215) 309-7951
toddweintraub@hillintl.com
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