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Costain reaches settlement agreement with Welsh Government over A465 contract dispute
StockMarketWire.com
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Smart infrastructure solutions company Costain said it had into a settlement agreement with the Welsh Government relating to the A465 contract.
The financial terms of the settlement were in line with the provision made by the group for the year ended 31 December 2020, the company said.
As a result of the settlement, the company had certainty of the final account sum payable by the Welsh Government to the company, including further milestone payments.
'Work on the contract is nearing completion, and the company continues to be responsible for the delivery and the management of associated project risks for the remaining works, which are scheduled to be completed in September 2021,' it added.
At 9:54am: (LON:COST) Costain Group PLC share price was 0p at 48.35p
Story provided by StockMarketWire.com
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