PHILADELPHIA and ATHENS, Greece, March 30, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from Technipetrol Hellas S.A., an affiliate of Technip S.A., to provide project management support services in connection with construction of the Trans Adriatic Pipeline (TAP) project.
TAP is the European leg of the Southern Gas Corridor, a complex value chain of energy projects that links natural gas supplies from Azerbaijan to Europe. Europe needs new sources of gas to meet its long-term energy demand, replace its own declining energy production, fuel economic growth and diversify its energy supply. Natural gas is expected to play an increasingly important role in the European energy mix for decades to come. As the cleanest fossil fuel, it has clear environmental advantages over other energy sources such as coal and oil. Also, it provides an important and flexible energy option in conjunction with renewable energy. The 870-kilometer pipeline will connect to the Trans Anatolian Pipeline on the Turkish-Greek border, and will run through
Greece, Albania and the Adriatic Sea before coming ashore in southern Italy. The project is expected to be completed by 2020. For more information on TAP, please visit the project's website at www.tap-ag.com.
"This is a massive undertaking that will have an enormous impact on the energy supply and overall regional economy of Southern Europe," said Raouf S. Ghali, Hill's Chief Operating Officer. "Hill is very excited to be assisting Technip with this important project," added Ghali.
Hill International, with 4,800 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 seventh largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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, 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.
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Source: Hill International, Inc.
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