Hill forms JV with Egyptian firms
Cairo:, January 15, 2008
Hill International has entered into an agreement with the Egyptian Natural Gas Holding Co. (EGAS) and the Egyptian Natural Gas Co. (Gasco).
The two subsidiaries of the Egyptian Ministry of Petroleum, in alliance with the the worldwide construction consulting firm, will form a new joint venture company that will provide project management services primarily on oil and gas projects throughout the Middle East and Africa, the company said in a statement.
The new company, Hill International Petrol (Egypt) Ltd, will be owned 50 per cent by Hill and 50 per cent by the Ministry of Petroleum’s subsidiaries.
“This new joint venture will allow Egypt to bring Hill’s project management resources and capabilities to projects throughout Egypt and the surrounding region, as well as to help develop a pipeline of work for Hill into the expanding oil and gas sector,” said Hill’s Chairman and Chief Executive Officer Irvin E. Richter.
“We believe that EGAS and Gasco are the ideal partners to help us make this new company successful as they will provide many of the technical resources necessary to help manage these projects,” Richter added. – TradeArabia News Service