| £674m PFI deal to upgrade Sheffield's roads |
| Wednesday, 08 April 2009 | |
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A record £674m will be spent on upgrading roads in Sheffield over the next 25 years - the largest Private Finance Initiative deal ever granted to a local authority.
The funding will allow Sheffield City Council to carry out improvements and maintenance to local roads and will include upgrades to traffic signals, signs, street nameplates and road markings. The deal covers nearly 2,000 km of road, 350 bridges and other structures, 69,000 streetlights and 35,000 roadside trees. Sheffield City Council will commence procurement arrangements in April 2009 by issuing an invitation for tenders in the Official Journal of the European Union. Work is scheduled to start in 2011. |