Vinci preferred bidder for €900 million roads concession

The UK Isle of Wight Council has named French contractor Vinci the preferred bidder for a £720 million (€900 million) road maintenance contract.

The 25-and-a-half-year project involves upgrading the 821km of roads on the Isle of Wight, an island off the southern coast of the UK. Work is expected to start in April 2013, subject to the approval of the UK Department for Transport.

An initial £145 million (€180 million) work phase will begin the project, after which the network (roads, bridges, pavements, street lights and signage, etc) will be maintained to a high standard for the period of the contract.

The consortium - Vinci Concessions and Vinci subsidiary Ringway - will be paid a fee based on network availability.