CLOSE to £140 million will be paid out by Islanders over the 25 years of the Private Finance Initiative (PFI) to rebuild roads. The Isle of Wight Council estimates the PFI could be worth £860 million in total investment. This would be made up of £325 million in government credits, the £140 million in the Isle of Wight Council highways maintenance budget over 25 years (currently estimated at £5.5m annually) plus increased value of the money. Join discussion...

Isle of Wight Council is looking for a highway maintenance PFI service provider. The project, which includes street lighting works, is likely to last for 25 years starting in 2013. It will encompass the management and maintenance of 822km of highways and 827km of public rights of way as well as 11,700 street lighting columns and a further 2,600 illuminated street furniture items. Join discussion...