Balfour Beatty and Galliford Try have been left counting the cost of Carillion's collapse with big hits on the Aberdeen Western Peripheral Route project.
Carillion was in joint venture with the duo on the £550m contract, which they are obliged to complete.
The current estimate of the extra cash contribution outstanding from Carillion to complete the project is £60-80m, of which any shortfall will be funded equally between Balfour and Galliford.
Both firms said they were discussing the position urgently with the Official Receiver of Carillion and Transport Scotland, to minimise any impact on the project.
Balfour Balfour, which was also working with Carillion [...]
Suppliers and subcontractors are owed around £2bn by Carillion.
The figure in the firm's last results statement for “trade and other payables” highlights how hard the supply chain could be hit by the company's collapse.
Subcontractors should be offered some protection on most public jobs by the use of Project Bank Accounts.
PBAs ring-fence money from the client and protect suppliers' cash if a main contractor goes under.
One industry source said: “This is the real acid test for PBAs now as a lot of Carillion's contracts will have been using them.
“PBAs have certainly helped speed up payments to suppliers but they've never seen [...]
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Award-winning UK construction, refurbishment and fit out contractor, Gilbert-Ash, has been appointed for a £2m fit out project at the British High Commission in Colombo,
Work on the 3,000 square metre building adds to the long list of international projects
Gilbert-Ash has completed with the UK Foreign & Commonwealth Office (FCO), with work undertaken in a total of 43 countries worldwide to date.
This is the second project Gilbert-Ash has completed on the British High Commission in Colombo, Sri Lanka having completed a £5m refurbishment project in May 2016.
Scheduled to take seven months to complete, the fit out project involves re-roofing the [...]