Latest results for the US giant revealed it racked up losses for the year to December 2016 compared to an operating profit of £16.6m last time on turnover down slightly at £247m.

Bechtel blamed the figures on “expected losses on a number of ongoing projects.”

It added: “The company has been profitable over the last five years except for the year 2016.

“After reviewing the company’s annual budget and plans, the company is expected to be profitable in the forseeable future.”

The latest results will raise eyebrows among the industry.

One contracting director said: “Bechtel have historically been drafted in as trouble shooters on jobs.

“So it’s a bit of a shock to see them fall into the red.”

Recent wins for Bechtel including the second phase development partner role on HS2.