Costain Group Pays National Grid GBP43.4 Million to Settle Legacy Contract
February 24 2022 - 2:56AM
Dow Jones News
By Ian Walker
Costain Group PLC said Thursday that it has made a full and
final payment of 43.4 million pounds ($58.8 million) to National
Grid PLC in settlement of the legacy Peterborough and Huntingdon
contract.
The infrastructure company said on Dec. 13 that it was due to
pay National Grid GBP53.5 million.
"The settlement agreement brings an end to the dispute after the
contract was mutually terminated in June 2020 and prevents any
further claims under the contract," Costain said.
It added that the company has made a strong start to the new
financial year and looks to the future with confidence.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
February 24, 2022 03:41 ET (08:41 GMT)
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