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  5. Settlement Agreement relating to the A465 contract

Pin to quick picksCostain Regulatory News (COST)

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Settlement Agreement relating to the A465 contract

17 Feb 2021 07:00

RNS Number : 3071P
Costain Group PLC
17 February 2021
 

Costain Group PLC 

("Costain" or "the Company" or "the Group")

 

Settlement Agreement in relation to the A465 contract

Costain, the smart infrastructure solutions company, announces it has entered into a settlement agreement with the Welsh Government in relation to the A465 contract ("Settlement"). 

The financial terms of the Settlement are in line with the provision made by the Group for the year ended 31 December 2020. 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.

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.

 

ENDS

Enquiries:

Costain:

Helen Willis, Chief Financial Officer Tel: 01628 842 444

MHP CommunicationsTim Rowntree, Peter Hewer

 Tel: 020 3128 8100 costain@mhpc.com

 

 

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