Sourcing Alternative Investment
With local roads making up 98% of the highways network in England and Wales and road maintenance expenditure down by 16% in the last year, the private sector is key to helping bridge funding gaps.
Colas has a local focus informed and supported by global expertise, and as a group we invest heavily in R&D with 2000 dedicated engineers and technicians engaged in future proofing transport infrastructure. Our experience of investing in over 80 PPP projects worldwide will be invaluable - given the need to re-consider funding options in the UK.
We are already responsible via our contracts with Highways England for around 23% of the strategic road network. There are many examples of good or best practice in delivery of highway services. Colas played a part in rolling out Britain’s first highways maintenance PFI contract in Portsmouth in 2005.
Seven years after the contract’s four-year core investment period came to an end, the Portsmouth PFI continues to deliver all of its aims. It is still maintaining the city’s roads and streets in good order.
What was needed in Portsmouth was a big capital investment to fix a broken road network. And Colas used key asset management principles to keep it in optimum condition.
The step change has come from the additional need to extract social as well as economic and environmental value.
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