Isle of Wight £260m highways contract signed
A £260m, 25-year contract to upgrade and maintain the Isle of Wight's roads has been signed in London.
Isle of Wight Council said it signed the agreement with Vinci Concessions and its partner Meridiam on Wednesday.
Under the agreement Vinci Concessions will receive a Department for Transport grant of £260m to upgrade pavements, roads and footways.
The council will top this up with £7.3m per year, which it says is £1m less than it currently spends.
The contract will also include street cleansing, roadside and winter maintenance. The CCTV network, street furniture, road signs and street-lighting will also be improved.
The agreement also includes schemes to stabilise the highways in areas prone to ground movement, including the Military Road and the Undercliff at Niton.