Galliford Try agrees £32m Aberdeen bypass settlement
UK housebuilder Galliford Try has confirmed it is close to a £32m cash settlement following a row over its Aberdeen road project.
Galliford Try and joint venture partner Balfour fell into a dispute with Transport Scotland over claims connected to the construction of the £745m Aberdeen Western Peripheral Route.
Transport Scotland has spent several months negotiating with the Aberdeen Roads Ltd, the joint venture company formed by the two contractors to build the road.
UK housebuilder Galliford Try has confirmed it is close to a £32m cash settlement following a row over its Aberdeen road project.
Galliford Try and joint venture partner Balfour fell into a dispute with Transport Scotland over claims connected to the construction of the £745m Aberdeen Western Peripheral Route.
Transport Scotland has spent several months negotiating with the Aberdeen Roads Ltd, the joint venture company formed by the two contractors to build the road.
As well as the cash settlement, Galliford Try said it expects to incur a write-off of £52m.
The firm’s general counsel and company secretary, Kevin Corbett, said: “The settlement brings to a conclusion a complex and challenging project, averting a lengthy and costly litigation process. The settlement also removes a significant distraction and uncertainty, allowing the construction business to focus on its core business, current and new projects which are expected to deliver improving margins, operating on multiple secured frameworks and in our chosen sectors.”
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
