A Vinci/Ringway joint venture has been named preferred bidder by the London Borough of Hounslow for its £800m PFI highways maintenance contract.
The 25-year deal will see Vinci Ringway upgrade the borough’s network of 259 miles of road and 458 miles of pavements.
The first five years of the contract will see Vinci Ringway make an initial investment of £100m to upgrade the road network.
The deal will include upgrading and improving roads, pavements, street lights, street cleaning, signs, street furniture drains and gutters.
Funding for the scheme follows a successful bid for a government grant of approximately £14m a year for 25 years from the DfT, with the London Borough of Hounslow funding the rest of the contract payments.
The PFI is one of only three which were up for grabs across the country, and the only one in London.
The contract is expected to be signed in July and work to start in January 2013.