MARLTON, N.J. and NEW YORK, Feb. 18, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that the company, in association with WSP USA Corp., has received a task order contract from Region 2 of the U.S. General Services Administration (GSA) to provide construction management services in support of GSA's Energy Savings Performance Contracts (ESPCs) for multiple federally-owned buildings located in Manhattan, Brooklyn and White Plains, New York. The three-year contract has an estimated value to Hill of approximately $3.2 million. GSA Region 2 is seeking to implement a variety of energy conservation measures in 11 facilities covering a total area of approximately 8.6 million gross square feet of conditioned space. The ESPC contract vehicle allows third party contractors to invest in federal facilities, and recover the costs of their investment plus a reasonable profit from the energy savings which are generated by the investments. Use of this type of contract brings with it significant risks and debts for GSA which must be managed to ensure that projects selected offer the best returns on investment, and that once investments are made, that expected savings are achieved. This effort also involves significant repair work to existing building operating systems in order to make them function correctly and enable the government to measure energy usage before and after projects are completed in order to verify actual savings realized. This project includes planning development of the program, identification and budgeting of energy and water conservation projects, life cycle cost estimates of investment decisions to facilitate business decisions by senior leaders, execution of individual project elements by the prime energy services company and subcontractors, measurement and verification of results, and adaptive management of the program to accomplish the overall goals. The estimated range of the construction costs for this ESPC effort is $80-$100 million.
The buildings involved in the project are the 201 Varick St. Federal Building, the Alexander Hamilton U.S. Custom House, the Jacob K. Javits Federal Building and Court of International Trade, the Silvio V. Mollo Federal Building, the Ted Weiss Federal Building, the Daniel P. Moynihan Courthouse, the Charles L. Brieant, Jr. Courthouse, the Ronald H. Brown U.S. Mission to the U.N., the Conrad B. Duberstein Courthouse, the Emanuel Celler Courthouse, and the Theodore Roosevelt Courthouse. For more information on GSA's ESPC program, please visit http://gsablogs.gsa.gov/gsablog/2014/02/11/gsa-federal-buildings-meet-the-challenge."We are honored to have received this contract from GSA," said James E. Koch, Ph.D., P.E., LEED AP, F.SAME, Senior Vice President and Director of Hill's Federal Services Group. "We look forward to helping them make their ESPC program successful," added Koch. Hill International, with 4,000 employees in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the 9th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com. The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733 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. We do not intend, and undertake no obligation, to update any forward-looking statement.