Costain has reached a settlement with the Welsh government over its troubled A465 Heads of the Valleys contract, the firm has announced.
In September last year, the contractor said it would include a charge of £45m in its half-year results to 30 June after it lost an arbitration decision over the job.
Now Costain has announced that the financial terms of its new settlement are in line with that provision.
It said: “As a result of the settlement, the company has certainty of the final account sum payable by the Welsh government to the company, including further milestone payments.”
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