MARLTON, N.J. and DOHA, Qatar, Dec. 17, 2009 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been awarded a contract by Qatar Islamic Bank to provide project and construction management services for the iconic Qatar Silhouette Tower - Intercontinental Hotel and Conference Centre in Doha. Hill's role is to manage the completion of the partially constructed works.
The project comprises a 59-story tower comprising 365 hotel rooms and 180 serviced apartments. An internal garden shall be constructed linking the main tower building. The construction cost is approximately $400 million with a completion period of 16 months.
Qatar Islamic Bank is financing the project for the owner H.E. Mohamed Bin Ajaj Al Kubaisi.
"We are very pleased to be awarded this contract," said Raouf S. Ghali, President of Hill's Project Management Group (International). "It is a great addition to our portfolio of projects underway with our valued client Qatar Islamic Bank," Ghali added.
Hill International, with 2,300 employees in 80 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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Certain statements contained in this press release 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 contained in this press release, the matters set forth herein including, but not limited to, any projections of earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, 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, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include: modifications and termination of client contracts; control and operational issues pertaining to business activities that we conduct on our own behalf or pursuant to joint ventures with other parties; difficulties we may incur in implementing our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
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