Costain Group PLC Settlement Agreement relating to the A465 contract (3071P)
17 February 2021 - 6:00PM
UK Regulatory
TIDMCOST
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 Communications Tel: 020 3128
Tim Rowntree, Peter Hewer 8100 costain@mhpc.com
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END
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