Hill International-Led Joint Venture Selected as Project Manager for the Grand Egyptian Museum
MARLTON, N.J. and CAIRO, Egypt, Feb 2, 2010 (GlobeNewswire via COMTEX News Network) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that a joint venture between Hill and EHAF Consulting Engineers has received a contract from the Ministry of Culture's Supreme Council of Antiquities of the Arab Republic of Egypt to provide project management services during the design and construction of the Grand Egyptian Museum.
The five-year contract has an estimated value to the Hill/EHAF joint venture of approximately $50.0 million. Hill has a 70% interest in the joint venture and EHAF has a 30% interest.
The Grand Egyptian Museum, which has a total estimated project cost of approximately $550 million, will be the largest and most important Pharaonic museum in the world, the largest museum in Egypt and one of the leading scientific, historical and archaeological study centers on the globe. The museum's twenty-first century galleries will be located in an iconic and distinctive building located where Cairo meets the desert, abutting the Giza Pyramids world heritage site. The museum, designed by Heneghan Peng Architects, Ove Arup, Buro Happold and others, will cover 3,500 years of ancient Egyptian history and house more than 100,000 artifacts.
"With the selection of a project manager, we have achieved yet another milestone in the development of the Grand Egyptian Museum," said Farouk Hosny, Egypt's Minister of Culture. "In Hill/EHAF, we have the expertise of a world-class project management team to ensure that this project will be completed successfully," he added.
"This is an iconic, once-in-a-lifetime project," said Raouf S. Ghali, President of Hill's Project Management Group (International). "Hill is proud to be managing the construction of this world-class project," added Ghali.
EHAF Consulting Engineers, with 800 employees in seven offices throughout the Middle East and North Africa region, provides architectural, engineering and management services. Engineering News-Record recently ranked EHAF as the 14th largest non-U.S. project management and construction management firm worldwide, and among the top 200 design firms worldwide. For more information on EHAF, please visit their website at www.ehaf.com.
Hill International, with 2,300 employees in 80 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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