THE Island’s roads are set for a major upgrade after transport minister Sadiq Khan today (Wednesday) announced £364.6m of new government funding.
The Private Finance Initiative (PFI) funding will allow the Isle of Wight Council to carry out vital improvements and maintenance to Island roads over 25 years.
Work will include road surface improvement and maintenance, footway and cycleway improvement and maintenance, maintenance on bridges and other structures, street lighting improvement and maintenance, upgrades to traffic signals, signs, street nameplates and road markings, street cleaning and winter maintenance.
Sadiq Khan said: "Well maintained local networks which work well for all road users – motorists, cyclists, pedestrians and bus passengers - are vital for communities and businesses to thrive.
"This funding will bring better, safer roads and more reliable journeys to the people of IW whether they are travelling for work or leisure.
"In addition, the improved infrastructure will attract businesses to the area, providing a boost to the local economy.
"I look forward to seeing the improvements this vital funding will bring for the people of the Isle of Wight and visitors to the island."
The next stage in the process is for the council to start procurement arrangements in March 2010 by issuing a notice in the Official Journal of the European Union (OJEU).
Work is scheduled to start in 2013.
Reporter: martinn@iwcpmail.co.uk