Hill International (NYSE:HIL - News), the global leader in managing construction risk, announced today that a joint venture between Hill and EHAF Consulting Engineers has received a contract from the Ministry of Culture's Supreme Council of Antiquities of the Arab Republic of Egypt to provide project management services during the design and construction of the Grand Egyptian Museum.
The five-year contract has an estimated value to the Hill/EHAF joint venture of approximately $50.0 million. Hill has a 70% interest in the joint venture and EHAF has a 30% interest.
The Grand Egyptian Museum, which has a total estimated project cost of approximately $550 million, will be the largest and most important Pharaonic museum in the world, the largest museum in Egypt and one of the leading scientific, historical and archaeological study centers on the globe. The museum's twenty-first century galleries will be located in an iconic and distinctive building located where Cairo meets the desert, abutting the Giza Pyramids world heritage site. The museum, designed by Heneghan Peng Architects, Ove Arup, Buro Happold and others, will cover 3,500 years of ancient Egyptian history and house more than 100,000 artifacts.
"With the selection of a project manager, we have achieved yet another milestone in the development of the Grand Egyptian Museum," said Farouk Hosny, Egypt's Minister of Culture.
Friday, February 05, 2010
Museum: Grand Egyptian Museum