A “critical” £415 million (€484 million; $650 million) design, build, finance, operate, and maintain (DBFOM) deal in Central Scotland has been awarded to a consortium led by developer Cintra and fund manager Meridiam Infrastructure.
Transport Scotland named ‘Scottish Roads Partnership’ (SRP) – comprising Cintra Infraestructuras, Meridiam Infrastructure Finance II, Amey Ventures Asset Holdings and Uberior Infrastructure Investments – as preferred bidder for the ‘M8 M73 M74 Motorway Improvements Project’.
The project will “complete the motorway network between Glasgow and Edinburgh by upgrading the A8 Baillieston to Newhouse,” Transport Scotland said. The agency noted the project would also improve the Raith Interchange and widen the M8, M73 and M74.
Transport Scotland, the national transportation bureau for Scotland, said the project will “shave up to 18 minutes off journeys at peak times” on the M8. Work on the site is expected to begin late in the year and the project is scheduled to be completed in spring 2017.
In February, Transport Scotland narrowed its shortlist of bidders to SRP and rival consortium ‘Connect Roads,’ teaming Balfour Beatty Capital and Galliford Try Investments. The agency put the project out to tender in April 2012.