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£2bn Sheffield highways PFI reaches financial close

Amey and Sheffield City Council’s £2 billion Highway Maintenance PFI Project has reached financial close.

The council said Amey - which beat Carillion and Mouchel to the job - is tasked with bringing Sheffield’s highway network up to a high standard within the first 5 years of the contract and then maintaining that standard for the remaining 20 years of the contract.

Sheffield said contractual discussions have been completed and the financial arrangements are all in place. The project is supported by the Department for Transport who have agreed to provide an investment totalling £1.2 billion over the life of the contract. 

Councillor Jack Scott, cabinet member for environment, recycling and streetscene said: “This project is a key priority for the council and the people of Sheffield. This huge investment of £2bn will provide us with a highway network and streetscene that will be the best in the country within five years.”

Amey chief executive Mel Ewell said: “Securing the funding required to enable us to improve and then maintain the standard of Sheffield’s highway network is a major achievement in this challenging financial market.”

The contract will see Amey improving and maintaining the city’s highway assets as well as providing street cleaning and grounds and tree maintenance and carrying out all winter maintenance duties. 

There will be a significant investment in the first five years known as the ‘core investment period’ when the majority of the improvements works will be carried out.

This work will involve improving roads and pavements, replacing street lighting columns and upgrading them and traffic signals with the latest LED technology, strengthening and repairing bridges and structures, improving flood prone drainage and replacing highway trees where necessary. 

The contract is set to begin in mid August, with about 480 council staff set to TUPE over to Amey. 

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