Italy's Webuild to fund wages for Clough employees involved in Snowy 2.0 project

(Reuters) - Italian construction group Webuild said it had provided funds for payment of wages to cash-strapped contractor Clough Group's employees, who are involved in the Snowy 2.0 project in Australia.

"Webuild's funding will ensure that works will continue on this project and that all of the workers and contractors involved in the Snowy 2.0 project continue to be paid and supported," Webuild said in a press statement dated Dec. 8.

Earlier in the week, Clough was placed into voluntary administration by its South African parent, Murray & Roberts Holdings, after a deal to sell the business to Webuild fell through.

Webuild and Clough are partners on the A$5 billion ($3.39 billion) expansion of Australia's biggest hydropower scheme, Snowy 2.0, which is already facing a delay of nearly two years into 2028.

($1 = 1.4771 Australian dollars)

(Reporting by Navya Mittal in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel)