Adnoc awards Hill International Dh57m facilities management deal
Abu Dhabi National Oil Co (Adnoc) has awarded a Dh57 million facilities management contract to project manager Hill International.
Under the three-year deal for Adnoc’s general services unit, it will oversee facilities management services across all sites, as well as support future expansion plans through project and cost management services.
Hill International also announced that it had landed a two-year deal worth between US$6m and $7.4m to provide project management and engineering services to build a new container terminal at the Tangier Medport in Morocco.
The port is one of the busiest in Africa, based on the Strait of Gibraltar, and handles 200 vessels a day travelling between Asia, Africa, Europe and the Americas.
The project wins provide happier news in the region for US-based Hill, which last month announced a $6.9m third-quarter loss compared with a $2.9m profit a year earlier, which it blamed on delayed payments from Middle East clients and on exceptional costs from a recent shareholder proxy contest.
In a conference call to analysts, David Richter, the chief executive, said the company continued "to see a softness" in the region. "We’re not seeing a lot of cancelled projects, but we’re not seeing a lot of new projects coming into the business," he said.
"Our plan is simply to continue to downsize the overhead operation of the Middle East business as it continues to shrink. We’re anticipating that business will be smaller in 2017 than it was this year, and it was smaller this year than last."
( courtesy of TheNational )