Wembley stadium 'ready ahead of time'

Australian construction firm Multiplex Group Ltd said today it had settled all disputes over its development of the Wembley sports stadium in Britain.

It said the agreement would enable the stadium to hold test events earlier than previously envisaged. The settlement will not change the project loss position assumed earlier by Multiplex, it said.

The £750 million ($2.1 billion) redevelopment of the iconic stadium in northwest London has been dogged by disputes, problems and soaring costs and completion is way behind schedule.

Multiplex had said in August it did not expect Wembley to be ready for a major event before June 2007.

- REUTERS