Firm鈥檚 joint-venture with Ringway will fix 鈥榚very single鈥� pot hole in Hounslow for the next 25 years
Vinci has reached financial close on a 拢800m PFI highways deal with London Borough of Hounslow.
The firm, in a joint venture with maintenance firm Ringway will take responsibility to fix 鈥渆very single鈥� pot hole and damaged road in the borough over the next 25 years.
Vinci is expected to invest around 拢120m in the scheme.
Jonathan Hart, partner in the projects practice at law firm Pinsent Masons which advised on the deal, said: 鈥淐losing this Project with the Vinci-BIF and Ringway teams is an important benchmark for the infrastructure market, having been achieved at a time of significant uncertainty in the PFI market pending the outcome of a government review into funding models.
鈥淲hile this project has been relatively unaffected due to the pragmatism of all involved, it is essential that more certainty around PFI is created sooner rather than later.鈥�
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