Lend Lease says it won't suffer a major hit to its earnings despite the Victorian government dumping plans for the East West Link road tunnel project.
The construction giant is a major player in the East West Connect consortium of companies that was working on the project.
The government announced on Wednesday it would pay $339 million to the consortium following its decision not to build the controversial road tunnel project.
Lend Lease said the decision would reduce its construction backlog revenue by about $1.4 billion and release $115 million in equity the construction giant had committed to the project companies involved in the tunnel project.
"No material impact to FY15 earnings is expected to arise from the agreement," Lend Lease said in a statement.
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