VINCI named preferred bidder for the 25-year highway maintenance contractin the London Borough of Hounslow
8 March 2012 - New contracts - United Kingdom
- A 25-year PFI partnership contract
- Total value: GBP 800 million (approximately €950 million)
The London Borough of Hounslow Council has named VINCI preferred bidder for a 25-year contract to upgrade and maintain its 432 km of roads and 763 km of pavements. The contract, which is subject to the approval of the Department for Transport (DfT), is expected to start in January 2013.
Following an initial work phase for a total amount of GBP 100 million (approximately €120 million), mainly financed by non recourse bank debt, the network (roads, bridges, pavements, street lights and signage, cleaning, upkeep of green spaces, etc.) will be maintained to the highest standards.
The total value of the contract is GBP 800 million (approximately €950 million). The consortium will be paid a fee based on network availability.
VINCI-Ringway, the consortium tasked with construction, operation and maintenance, comprises VINCI Concessions, which holds shares in the concession company, and Ringway (a subsidiary of Eurovia, which is in turn a VINCI subsidiary), in charge of construction, operations and maintenance.
VINCI is a global player in concessions and construction, employing more than 185,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities.