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VINCI Named Preferred Bidder for the Highways Maintenance Contract in the Isle of Wight, United Kingdom - The Isle of Wight Council has named VINCI preferred bidder for a 25 1/2-year contract to upgrade and maintain its 821 km of roads - VINCI.com
VINCI Named Preferred Bidder for the Highways Maintenance Contract in the Isle of Wight, United Kingdom

 

PRZOOM - /newswire/ - Rueil-Malmaison, Hauts de Seine, France, 2012/05/30 - The Isle of Wight Council has named VINCI preferred bidder for a 25 1/2-year contract to upgrade and maintain its 821 km of roads - VINCI.com. CAC 40; Euronext 100

   
 
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• A 25 ½ year PFI partnership contract;
• Total value: GBP 720 million (approximately €900 million).

The Isle of Wight Council has named VINCI preferred bidder for a 25 1/2-year contract to upgrade and maintain its 821 km of roads. The contract, which is subject to approval of the Department for Transport (DfT), is expected to start in April 2013.

Following an initial work phase for an amount of GBP 145 million (approximately €180 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 (work phase and maintenance) is GBP 720 million (approximately €900 million). The consortium will be paid a fee based on network availability.

The consortium 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.

This contract is the second Highways PFI secured by VINCI in the United Kingdom, after the London Borough of Hounslow Highways PFI earlier this year.

About VINCI

VINCI (vinci.com) is the world leader in concessions and construction, employing close to 180,000 people in some 100 countries. We design, build, finance and manage facilities that improve everyday life: the systems that transport us, the public and private buildings in which we live and work, the urban developments that create and improve our communities, and the water, energy and communication networks vital to human existence. As a private sector company contributing to the development of society, VINCI successfully blends a business focus on today’s priorities with the long-term sustainability of its accomplishments and integrated concessions-construction business model.

 
 
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Agency / Source: VINCI

 
 

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VINCI Named Preferred Bidder for the Highways Maintenance Contract in the Isle of Wight, United Kingdom

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VINCI |
Contact: Maxence Naouri - VINCI.com 
+33(0)1 47 16 31 82 maxence.naouri[.]vinci.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any VINCI securities in any jurisdiction including any other companies listed or named in this release.

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