Birmingham City Council has finalised a £2.7bn PFI deal to modernise its roads network.
The council announced Amey had been selected as preferred bidder to deliver the contract for repair and maintain the city’s roads for the next 25 years.
Conclusion of the deal has come despite the global freeze in the lending markets as a result of the credit crunch.
Cllr Len Gregory, cabinet member for transportation and street services, said: ‘The process to reach a preferred bidder appointment has rightly been a detailed one. 'We have explored a number of value-for-money options that justify this process.’
Two ways to improve local authority finances
The NAO has concluded insufficient action has been taken to address weaknesses in council finances. Teams from TLT LLP consider what councils should do next.
