PHILADELPHIA and NEW YORK, May 31, 2017 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a subcontract from Jacobs Engineering Group to assist that firm in providing construction management services to the New York Metropolitan Transportation Authority (MTA) in connection with rehabilitation of the Canarsie Tunnel in New York City. The five-year subcontract has an estimated value to Hill of approximately $5.8 million.
The Canarsie Tunnel, also known as the 14th Street Tunnel, connects Manhattan and Brooklyn under the East River and provides access for the MTA's L Line. The storm surge from 2012's Superstorm Sandy damaged the tunnel, leaving it in need of extensive repairs. The tunnel was flooded with seven million gallons of salt water leaving two adjacent 7,100-foot-long sections of the tunnel with significant damage.
Hill will be supporting Jacobs in providing pre-construction and construction management services during the tunnel's rehabilitation, which involves repairs and upgrades to the structural, power, lighting, signals and communication components of the
tunnel. It also includes demolition and replacement of duct banks and cables, replacement of emergency systems, rack rail and concrete bed installation as well as extensive street excavation, utility relocation and other station improvements.
"The Canarsie Tunnel supports a vital New York City subway line impacting many people and businesses in both Manhattan and Brooklyn," said John Milano, P.E., Senior Vice President and Northeast Regional Manager for Hill's Project Management Group. "We are honored to be assisting Jacobs with the rehabilitation of such an important infrastructure project," added Milano
Hill International, with 3,300 professionals in more than 70 offices worldwide, provides program management, project management, construction management and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. 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.
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.
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Source: Hill International, Inc.
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