Vinci/Ringway wins £1.2bn highways PFI
The scheme will see the island’s infrastructure improved which will include almost 499 miles of road and 477 miles of footway, as well as 12,000 streetlights and some bridges.
The consortium has pledged to employ local labour and subcontractors, fund 55 apprentices and supply a £1,500 bursary to 4 Isle of Wight students intending to study engineering at university.
A council spokesman said: ”Now this stage of the process has been reached, the full scope of the project – that involves university bursaries for future civil engineering students, schemes to stabilise highways that suffer ground movement and over 120 schemes to reduce highways flooding – can be detailed.
“At the heart of the PFI project will be the comprehensive upgrade – and maintenance over 25 years – of the Island’s road, footway and cycleway network.”