Costain has announced that it has received payment from the main contractor on its Belvedere energy-from-waste site, after the latter was rescued in a
deal.
The engineering and construction company was given the first payment from AE & E Inova, worth £2.6 million.
Earlier in the month, the firm had warned the stock exchange that it was still owed £22 million from the troubled company, the parent company of
which had claimed insolvency.
AE & E Inova has since been bought by the Japan-based firm Hitachi Zosen Corporation.
In a statement, Costain said: "We welcome these positive developments and look forward to maintaining our constructive relationships with AE&E Inova and Cory Environmental, for whom the Belvedere facility is a development project."
The Belvedere Incinerator project has already been subject to several days,after its initial proposal 15 years ago.
Located in Bexley, the site was given planning permission in 2006, despite strong local opposition.
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