CORRECTION -- Hill International, Inc.
August 06 2021 - 2:01PM
In a release issued on Thursday, August 5th by Hill
International (NYSE:HIL), please note that in the
headline, $6 Billion should have read $5 Billion. The
corrected release follows:
Hill International Awarded Five-Year Program
Management Contract to Support the Miami-Dade County Aviation
Department’s $5 Billion CIP at MIA, Executive, and General Aviation
Airports
Hill International (NYSE:HIL), delivering
the infrastructure of change, announced today it was awarded a
contract to provide program management services for the Miami-Dade
County Aviation Department’s (MDAD) $5 billion Capital Improvement
Program (CIP). The program encompasses Miami International Airport
as well as all the County’s executive and general aviation airports
and will support modernization projects over the next 15 years.
These improvements will accommodate dramatic growth at MDAD’s
airports, with total passengers expected to reach 60 million
annually over the life of the program. Due to MIA being the first
IATA-Designated Pharma Hub Airport in the U.S. and substantial
growth in e-commerce, freight traffic is also expected to increase
substantially to a total of more than 4 million tons by 2040.
Hill’s contract is for the initial five years of the program, with
the potential to execute two additional five-year extensions.
According to the office of the Miami-Dade County
Mayor, Miami International Airport and related area airports
generate approximately $31 billion in business revenue annually and
serve as the gateway for 96 percent of the region’s visitors. The
CIP at Miami International Airport is composed of five
sub-programs: the redevelopment of Central Terminal (concourses E
and F); the expansion of the South Terminal (concourses H and J);
renovations to North Terminal gates (concourse D) to accommodate
additional wide- and narrow-body aircraft and larger regional jets;
two new hotels; miscellaneous landside projects; and expanded
aircraft parking and warehouses for cargo operations.
Hill First Vice President and Southeast Regional
Manager Eladio Castrodad, PE, PMP, CGC, said of the award, “MDAD’s
CIP positions the community’s airports to continue providing an
efficient, safe, and pleasant passenger experience for many years
to come. It’s a long-term vision, one that fits with the dynamic
nature of the region and meets the demands on MDAD’s facilities.
Our team firms reflect the diversity of the Miami metro area itself
and is tailored to MDAD’s program management needs with both local
and international aviation expertise. This emphasis on inclusion
and our experience-based approach will help MDAD execute their
vision successfully.”
“The pandemic certainly slowed growth in the
region, but as air travel returns there is building pressure to
resume and accelerate that growth,” concludes Hill’s Chief
Executive Officer Raouf Ghali. “MDAD’s program will take advantage
of the pressure to realize these new and improved facilities and
put Miami-Dade’s airports ahead of the curve, as efficiently and
cost-effectively as possible.”
About Hill International
Hill International, with more than 2,800
professionals in 72 offices worldwide, provides program management,
project management, construction management, 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 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+CSenior Vice President (215)
309-7707elizabethzipf@hillintl.com
The Equity Group, Inc. Devin SullivanSenior
Vice President (212) 836-9608dsullivan@equityny.com
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