KINGSKERSWELL bypass contractors have clarified that an Irish company working for them is not in financial difficulty.
Concerns were raised after reports that SIAC Construction Ltd had gone into examinership in Ireland.
A spokesman for road builders Galliford Try said: "Galliford Try Infrastructure Ltd has subcontracted the main contract works for the A380 South Devon Link Road to the Galliford Try SIAC joint venture which consists of Galliford Try Infrastructure Ltd and SIAC Construction (Holdings) Ltd.
"The Irish high court appointed an examiner to SIAC Construction Ltd and eight related companies on October 30.
"We would emphasise that SIAC Construction (Holdings) Ltd — the trading entity which is part of the joint venture delivering the Kingskerswell bypass with Galliford Try — is not in examinership.
"Galliford Try confirms that the examinership of SIAC Construction Ltd will have no effect on the programme, cost or successful delivery of the project."
Examinership in Ireland is a rescue process designed to help businesses recover from insolvency.
The South Devon link road project has marked one year since work began.
MPs Anne Marie Morris, Adrian Sanders and Sarah Wollaston visited the site, along with Devon County Council leader John Hart, Devon County Council cabinet member for economy and growth Andrew Leadbetter and Gordon Oliver, Mayor of Torbay.
Devon County Council and Torbay Council, along with Galliford Try, organised the visit which showcased current activity, updated visitors on progress to date and included a tour of the site, along the route of the new road.
Gordon Oliver said: "Just over a year ago the road only existed on paper, but 12 months on, the reality is coming into being. It's exciting to see the project moving along and recognise this anniversary of the turf cutting."
Jim Watson, project director at Galliford Try, said: "The summer weather has really helped our earthworks programme progress well and we are looking forward to the next phase of the project.
"As the second year begins, the most visible construction phase will be the start of work on the north and south ramps of the Penn Inn flyover."
Galliford Try has opened a new public footpath from Addison Road to the Penn Inn bus stop and underpass area.