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Multiplex steel deal falls through

MULTIPLEX Group says it was unable to reach agreement with the steel contractor for the Wembley Stadium project for a cap on costs. The construction group had been in talks with the steel contractor, Hollandia, in a bid to curb the rising cost of steelworks on the massive reconstruction of the iconic London stadium. But a Multiplex spokesman said “negotiations were never concluded”, confirming that the talks were called off without any agreement for a cap on costs being reached. Hollandia was brought onto the project after a dispute with the original contractor, Cleveland Bridge, but is not on a fixed-price contract. This has led to cost blow-outs on Wembley, with steel costs coming in higher than anticipated for Multiplex.

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