Private financing should be used more frequently to build new roads, an infrastructure expert has said.
EY partner Manish Gupta advocated using more private financing to fund new highways infrastructure despite admitting that some existing PFI contracts have gone “very, very badly”.
Speaking at the Future Roads Forum in London last week Gupta said that PFI can “provide an efficient, accelerated means of providing infrastructure”, but added that contracts can be inflexible and that “a one size fits all” approach does not work.
Referencing the existing five highways maintenance contracts in the UK Gupta, who leads EY’s Transport Corporate Finance practice, added that “some of them are doing great, some of them are doing very, very badly.”
Amey will divest stakes in PFI projects following trouble with its Birmingham highways maintenance contract, it’s Spanish parent company announced.
The local authority and Amey are involved in a legal dispute about the quality of works carried out so far under the 25-year maintenance and management service, which started in 2010.
Like what you’ve read? To receive New Civil Engineer’s daily and weekly newsletters click here.