Vinci Ringway has reached financial close on the Hounslow major highways private finance initiative.
The LB Hounslow procured project will involve a special purpose company involving Vinci Concessions and Barclays Infrastructure Fund taking a 25 year concession to maintain and enhance the borough’s highways. Ringway, a Vinci company, will operate the contract.
The contract covers a range of street features and services including: resurfacing streets and pavements, replacing and improving lighting, upgrading street furniture, keeping the streets clean, removing graffiti and the rubbish created by fly tippers, as well as taking care of bridges, trees and verges and gritting the roads during winter.
The first five years of the programme will see the roads and pavements that are in the worst condition dealt with first, and the contract will also prioritise street cleansing and tackling litter. The council has already made improvements to its street cleansing services, which will see additional resources put into cleaning the borough’s streets in the coming months.
Cllr Colin Ellar, Hounslow’s cabinet member for environment, said: “Improving the state of our streets is a major priority and Hounslow Highways gives us the opportunity to take this forward. Residents will be able to see real improvements from next year, as we recently approved the work programme for the first year of the contract which will deliver a renewed street environment across the borough.”
Vinci Concessions PFI director Phil Jackson said: “We recognise that this is a particularly important project for the borough and are looking forward to working alongside the Council over the coming months and years.”