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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hill International Inc | NYSE:HIL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.40 | 0 | 01:00:00 |
Hill International, Inc. CEO Raouf Ghali said of the award, “This is an exciting project for all involved, and represents the continuing strength of the North African market in general and Egypt in particular. With demographic factors, astute planning, and innovation providing an engine for growth in Egypt, we expect the country will set a global standard in executing ambitious infrastructure projects and programs like the Cairo Monorail for many years to come.”
Built by Egypt’s National Authority for Tunnels, the estimated U.S. $4 billion project represents the first monorail project in North Africa and, once complete, will be the longest monorail system in the world at a combined 98.5 km. The project’s first line will extend 56.5 km from East Cairo to the New Administrative Capital. The second line will be 42 km long to connect 6th of October City to Giza. These are the first mass transit links to connect Greater Cairo with New Capital City and 6th of October City. With operating speeds up to 80 km/h, the journey time for the new Capital City will be around 60 minutes (for 56.5 km line) and around 42 minutes for 6th of October City (42 km line).
The project will use the design-build-operate-and-maintain (DBOM) delivery method, and includes 34 stations, including both elevated and at-grade locations, and associated works including maintenance facilities, depots, and an Operations Control Centre. The monorail will also intersect with the Cairo Metro’s Line 3 as well as Cairo’s High Speed Rail network, further connecting the dynamic Cairo region.
“Hill has a decades-long record of success in delivering mega-transportation and infrastructure projects in Egypt as well as around the world,” explained Hill International’s Senior Vice President and Africa Managing Director Waleed Abdel-Fattah. “Our team will bring the best practices and lessons learned from our assignments to make certain these new lines achieve the Authority’s goals for the project and offer a fast, safe, and clean transit solution for residents.”
About Hill International
Hill International, with approximately 2,700 professionals in more than 65 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 StatementsCertain 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+CSenior Vice PresidentHill International, Inc.One Commerce Square2005 Market Street, 17th FloorPhiladelphia, PA 19103(215) 309-7707elizabethzipf@hillintl.com
The Equity Group, Inc. Devin SullivanSenior Vice President (212) 836-9608dsullivan@equityny.com
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