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Louis Berger/Hill International Joint Venture Awarded $265 Million Riyadh Metro Project Management Contract

Stocks in this article: HIL

MARLTON, N.J. and RIYADH, Saudi Arabia, Aug. 28, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its joint venture with Louis Berger has been awarded a $265 million contract by the Arriyadh Development Authority (ADA) to provide project management and construction management services for the Riyadh Metro project. The contract was awarded under the Riyadh Advanced Metro Project Execution and Delivery (RAMPED) joint venture, in which Louis Berger is a 55 percent majority partner and Hill is a 45 percent partner.

As the intermediary between ADA and the design-build contractors, the joint venture will oversee design and construction deliverables through the project life cycle for Package 3, which consists of three of six lines in the new Riyadh Metro system. The contract covers a five-year performance period and a 24-month defects liability period.

"Our team is privileged and honored to be selected for one of the largest and most ambitious transit programs to ever be conceived," said Jim Stamatis, President of Louis Berger's international operation.  "We look forward to playing a key role, in partnership with ADA, to deliver a transportation system that will support continued economic growth of Saudi Arabia's capital city by improving traffic congestion and connecting the citizens of Riyadh and the Kingdom of Saudi Arabia with their visitors and guests."

Package 3 includes Line 4, Line 5 and Line 6 and covers 67 kilometers of track with 48 kilometers of elevated alignment, 5.5 kilometers of mined tunnel, 22 stations and nearly 13 kilometers of bored tunnel constructed through some of the most congested districts in Riyadh. Line 4 links to the King Khalid International Airport with a mix of elevated and at-grade sections.  Line 5 will run in a bored tunnel along King Abdulaziz Street, between King Abdulaziz Historical Centre and the Riyadh Airbase. Line 6 runs in a half-ring from King Abdullah Financial District, passing by Iman Mohammed Bin Saud University and ending at Prince Saad Ibn Abdulrahman Al Awal Road.

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