MARLTON, N.J. and LUXEMBOURG, March 2, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its subsidiary Hill International N.V. has received a contract from the European Investment Bank (EIB) to provide project management services during design and construction of EIB's new headquarters building located in Luxembourg. The eight-year contract has an estimated value to Hill of approximately €6.2 million ($8.5 million).
The new building will have a capacity for 1,500 work stations and an estimated gross area of approximately 74,500 square meters (802,000 square feet). It will house the staff actually located in the original EIB building which is coming to the end of its lifecycle. The new building is expected to obtain a BREEAM environmental building certification of "Excellent". As project manager, Hill will be responsible for managing the coordination of the project, the risks, the contracts, claims modifications, documents, communication and commissioning, as well as for coordinating security, health and safety and for overseeing design.
"EIB's new building in Luxembourg is an extremely important project," said John A. Arnold, Senior Vice President and Managing Director (Europe) for Hill's Project Management Group. "It will be a state-of-the-art building—sober, sustainable and cost-efficient. We are honored that Hill has been selected to manage the construction of this essential new facility," added Arnold.
The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. For more information on the EIB, please visit the EIB website at www.eib.org.
Hill International, with 4,600 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the ninth 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 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 projections of revenues, 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 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. We do not intend, and undertake no obligation, to update any forward-looking statement.
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Source:Hill International, Inc.