Hill International to Support Key Development on Bosnia and Herzegovina’s Principal Motorway

Rhea-AI Summary

Hill International (NYSE:HIL) has been selected by JP Autoceste FBiH to provide technical assistance for a 5.5 KM motorway construction project in Bosnia and Herzegovina, a €188.3 million investment backed by the European Bank for Reconstruction and Development and the European Investment Bank. The project includes a 3.6 KM tunnel and aims to enhance regional connectivity and economic development, potentially creating 750 jobs. This initiative aligns with Bosnia's national transport strategy, improving access for nearly 169,000 residents to education and healthcare.

Positive

• Engagement in a €188.3 million project enhancing infrastructure in Bosnia and Herzegovina.
• Expected job creation of approximately 750 positions during and after construction.
• Significant improvements in regional connectivity and access to essential services for 169,000 residents.

Negative

• None.

PHILADELPHIA and SARAJEVO, Bosnia and Herzegovina, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL) (Hill), the global leader in managing construction risk, announced today it has been selected by JP Autoceste FBiH to provide technical assistance to the Project Implementation Unit (PIU) for the construction of an approximately 5.5 KM motorway between Poprikuše and Nemila in the Mediterranean Core Network (Corridor Vc).

The Corridor Vc project represents a €188.3 million investment by the European Bank for Reconstruction and Development and the European Investment Bank. Given the challenging geotechnical properties of the region, the new motorway will feature several unique elements, such as the 3.6 KM Golubinja tunnel, two bridges, two viaducts, an overpass, and a roundabout.

The project is also a key part of the national strategy, Framework Transport Strategy of Bosnia and Herzegovina, which lays out the country’s anticipated transportation-sector development by 2030. It will facilitate integration of the country with European economic and social structures and improve the connection of Bosnia and Herzegovina with neighboring countries, especially Croatia and Hungary. It will thereby improve the potential for economic development through trade. Moreover, the project is expected to create approximately 750 jobs during and after construction. As the Corridor Vc is the most modern and most heavily used roadway in the nation, its upgrades will also improve local traffic conditions. Nearly 169,000 residents will have better access to education and healthcare as a direct result of this project. 

“The successful implementation of Corridor Vc projects is vital for the Bosnian economy,” says Hill Vice President and Managing Director for the Balkans Panagiotis Methenitis. “Importantly, this Corridor is in the larger network of Pan-European Corridors. As such, it offers a critical roadway connection for Central Europe with the rest of the continent. In this context, being assigned with such a significant advisory role is an honor.”

As leader of an international consortium, Hill International will assist the PIU with contract implementation, administration, and supervision to help ensure that the program is efficiently carried out in line with all contractual conditions and technical specifications. Hill will take a proactive role in the implementation of the project by initiating and coordinating all activities among other stakeholders to achieve the project’s goals. Hill will also provide technical assistance to the PIU, including management of the project, supervision and monitoring services, and oversight of communications, reporting, and document preparation.

Raouf Ghali, Hill’s Chief Executive Officer, says: “In the Balkans, Hill has more than 20 years of experience implementing infrastructure projects financed by international funding institutions. Over the years, it has been a privilege for us to use our global knowledge to support regionally significant projects and programs. We are committed to remaining a trustworthy partner for the development of the Balkans.”

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 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 HIL project with JP Autoceste FBiH?

Hill International's project with JP Autoceste FBiH focuses on constructing a vital motorway in Bosnia and Herzegovina, enhancing regional infrastructure.

When was the announcement made regarding the HIL motorway project?

The announcement was made on August 18, 2020.

How much is the investment for the HIL motorway project?

The investment for the motorway project is €188.3 million.

What are the expected outcomes of the HIL project?

The project is expected to create approximately 750 jobs and improve access to education and healthcare for nearly 169,000 residents.

What is the length of the motorway being constructed in the HIL project?

The length of the motorway being constructed is approximately 5.5 KM.