This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Hill International Receives Contracts To Manage Construction Of Two Medical Cities And Ten Hospitals For Saudi Ministry Of Health

MARLTON, N.J. and RIYADH, Saudi Arabia, Oct. 9, 2012 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received two contracts from the Ministry of Health (MOH) of the Kingdom of Saudi Arabia to provide project management services during the design and construction of two medical cities and ten hospitals located throughout the Kingdom. The five-year contracts have a combined estimated value to Hill of approximately SAR 127.5 million ($34.0 million).

The King Faisal Medical City in the southern province (Abha) will have a 1,350-bed capacity. The Prince Mohammed bin Abdulaziz Medical City in the northern province (Al Jouf) will have 1,000 beds. Both medical cities will incorporate housing and other facilities for medical staff in addition to their hospital facilities. The ten hospitals will add an additional 2,600 beds with locations throughout the Kingdom. All of these medical projects are part of the Kingdom's efforts to improve healthcare services for its rapidly growing population, which is expected to rise from the current 26 million to 29 million by 2015.

Hill's two contracts are part of MOH's plan to implement a professional process for project and construction management services to effectively and efficiently manage time, cost and quality of their capital construction program. MOH is also looking to quickly provide improved health services for the Kingdom's regional population, which drove their decision to hire Hill to construct these high-visibility projects in a fast and accurate manner. Minister of Health Dr. Abdullah Abdulaziz M. Al Rabeeah, MD, FRCS, Assistant Deputy Minister for Engineering Affairs Eng. Ahmad Al Beez, Dr. Eng. Zeyad Al Swaidan and Eng. Hamad Al Lehedan are the MOH's representatives in charge of this expansion program.

"Construction of these 12 projects is critically important for the people of Saudi Arabia," said Raouf S. Ghali, President of Hill's Project Management Group (International). "We are honored to have been selected by MOH to manage such an important healthcare program," added Ghali.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs