Hill International Contracted as Lead Technical Consultant for Athens Metro Projects

Rhea-AI Summary

Hill International (NYSE:HIL) announced it has been awarded a contract by Attiko Metro S.A. to provide technical assistance consultancy for metro and tramway projects in the Attica Region. The initial focus will be on the Athens Metro Line 4, which spans approximately 12.8 km and includes 15 underground stations, with an estimated cost of €1.5 billion and a scheduled delivery in 96 months. Hill will also contribute to the Athens Metro Line 3 extension, enhancing ridership by 132,000 passengers per day while reducing private vehicle use significantly. The project reflects Hill's capabilities in critical infrastructure.

Positive

• Award of major contract for the Athens Metro Line 4, valued at €1.5 billion.
• Participation in ongoing Athens Metro Line 3 extension, enhancing public transport capacity.
• Expected ridership increase of 132,000 passengers daily and significant reduction in CO2 emissions.

Negative

• None.

PHILADELPHIA and ATHENS, Greece, March 03, 2022 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), delivering the infrastructure of change, announced today it was awarded, as the leader of an international consortium, a contract by Attiko Metro S.A. in view of providing technical assistance consultancy services for current and future metro and tramway projects in Attica Region.

Under the contract, Hill will first provide consultancy services for the design, construction, and commissioning of the Athens Metro Line 4. Section A: Alsos Veikou – Goudi of Line 4 will be approximately 12.8 km long and will also include a tunnel connecting Line 4 with Lines 2 and 3, as well as an access tunnel to the train stabling and maintenance yard at Katehaki. Other project features include 15 underground stations and 9 intermediate and/or terminal shafts. Section A of Line 4 is one of the most important in the Athens mass transit system and was designed to serve a number of densely populated areas and several important public buildings and facilities, such as hospitals, educational institutions, courthouses, and public organizations and ministries. Section A of Line 4 project has an estimated cost of €1.5 billion and is scheduled for delivery in 96 months.

The Hill Consortium will also participate in the ongoing Athens Metro Line 3 extension, section Haidari – Piraeus. Construction of the project, which includes a 7.6 km long tunnel, 6 new modern stations, and 7 ventilation intershafts, is well underway. Once complete, the total ridership for the Metro network is expected to increase by 132,000 passengers per day, thus reducing the circulation of private vehicles by 23,000 cars daily and associated carbon dioxide emissions by 120 tons per day. The line will also facilitate travel from Piraeus Port to Athens International Airport in just 55 minutes. With an investment of more than €730 million, the entire Line 3 Extension is expected to be commissioned in summer 2022.

The Hill Consortium will participate in every activity (design, tendering, construction, testing, and commissioning) required in the framework of the technical scope of Attiko Metro S.A. projects under construction and new projects to verify their successful completion. In addition, the Hill team will provide specialized technical solutions, information, and optimization recommendations based on the evolution of technology, support to resolve design issues, and supervision management.

Manolis Sigalas, Hill First Vice President & Managing Director Southern Europe, stated on the award: “The ongoing and scheduled extensions of the Athens Metro constitute an infrastructure program of profound significance for the city of Athens and one of the largest infrastructure programs currently underway in Europe. We are absolutely delighted and honored with this appointment and, together with our partners, we shall work hard alongside Attiko Metro S.A. and all stakeholders involved throughout its delivery.”

Hill Chief Executive Officer Raouf Ghali stated on the award: “Hill is helping to deliver major rail and transit projects and programs around the world, and we are bringing our best practices and lessons learned to Attiko Metro S.A. and their critical urban infrastructure projects in Athens. This program is an exceptional addition to the Hill portfolio, it underscores our capabilities for critical infrastructure projects in Europe.”

About Hill International

Hill International, with more than 3,000 professionals in over 100 offices worldwide, provides program management, project management, construction management, project management oversight, facilities management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as one of the largest construction management firms 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
(215) 309-7707
elizabethzipf@hillintl.com

The Equity Group, Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com

FAQ

What is the significance of the contract awarded to Hill International by Attiko Metro S.A.?

The contract is significant as it involves providing technical consultancy for major metro projects in Athens, enhancing public transport and reducing vehicle emissions.

How much is the Athens Metro Line 4 project worth?

The Athens Metro Line 4 project is estimated to cost €1.5 billion.

What is the expected impact of the Athens Metro Line 3 extension?

The extension is expected to increase ridership by 132,000 passengers daily and reduce private vehicle circulation by 23,000 cars.

How long is the Athens Metro Line 4, and how many stations will it have?

The Athens Metro Line 4 will be approximately 12.8 km long and will include 15 underground stations.

What is the expected completion time for the Athens Metro Line 4?

The Athens Metro Line 4 is scheduled for delivery in 96 months.