The ground engineering firm would not identify the problem job, but said that the final cost of remedial works would not exceed £60m.

The dispute is understood to centre on purported defects in a floor slab at a warehouse for which Keller designed and installed the piling.

These were alleged by other parties to be due, in part at least, to deficiencies in the provision of Keller’s services.

Last year Keller said that it had set aside £30m to cover expected extra costs on the job.

Today Keller confirmed it had finally reached an agreement to settle with the other parties involved in the litigation.

As a result, it is expected that Keller will make a further exceptional charge of between £20m and £30m.

A statement said: “The final cost to Keller is dependent on a number of remedial actions to be undertaken as part of the settlement agreement but is not expected to exceed £60m, before taking account of any yet to be agreed insurance recoveries.”

The full terms of the settlement agreement are confidential between the parties.