The 123 apartment tower in Meridian Quay, Swansea is two months away from being finished.
Carillion downed tools on the 29-storey, ВЈ70m development and now developer Ferrara Quay is looking for another contractor to finish the job.
The Tower project was originally approved in December 2004, but suffered delays at the outset with the scheduled start date of February 2005 pushed back by another 18 months.
A spokeswoman for Carillion told the Western Mail: “We did exercise the right to terminate the contract on Friday, April 3, in relation to payment.
“But we cannot go into this because of commercial sensitivity.
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“We were pretty close to the end of the work and had about two months to go.”
The spokeswoman said there were in the region of 100 workers on site and 50 people remain on site to remove tools and other equipment.
“We cannot, literally, just pull away,” she said.
Carillion had gradually uncovered the wraps of the building in four-storey sections, the first being in December 2008, showing the familiar white facade and tinted windows featured in six smaller apartment blocks surrounding the Tower, which also has six commercial units and a restaurant on the 27th to 29th floors.
A spokeswoman for Ferrara Quay said that a dispute arose in recent weeks between Ferrara Quay and Carillion.
She added that a resolution could not be found and as a consequence Carillion exercised determined the building contract on Friday, April 3.
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