The Scottish Roads Partnership consortium has reached financial close on its £500m contract to complete Central Scotland’s motorway network.
Ferrovial, through subsidiaries Amey and Cintra Infraestructuras, in consortium with SWIP Infrastructure Funds and Meridiam, has a design, build, finance and operate (DBFO) project to improve the M8, M73 and M74 motorways. It will also operate and maintain the infrastructure for 30 years after the new roads are opened.
The project is designed to alleviate traffic congestion between Glasgow and Edinburgh and drive economic development in the region.
The consortium will construct a new motorway and upgrade the existing section of the A8 between Baillieston and Newhouse, improve the Raith Interchange and widen several sections of the M8, M73 and M74. The project comprises 28.6km of motorway: 12.4km will be newly built and the other 16.2km of existing road will be upgraded.
A construction joint venture of Ferrovial Agroman and Lagan will undertake the design and construction work, to be completed in spring 2017, and Amey will be responsible for operation and maintenance.
Value of the construction work is £310m.
Last month client Transport Scotland signed a pre-start works deal with the contractors enable them to start mobilising ahead of financial close and formal contract signing.