Province to pay company millions under Fredericton bridge settlement

New Brunswick's government says a settlement has been reached in a lawsuit over a rehabilitation project for the Princess Margaret Bridge in Fredericton.

The province entered into an agreement with S-N-C Lavalin in 2010 for a 78.1-million-dollar rehabilitation project, including a full deck replacement and structural steel strengthening and repairs.

Under terms of the settlement, the government will pay the company 72.6 million dollars for the work done.

The government says the project will be completed this summer when seismic upgrades and defect repairs are finished.