The consortium of Amey Ventures, Equitix and Uberior reached financial close on the Sheffield Highways Maintenance PFI on 31 July 2012. The project involves the refurbishment and maintenance of 1,900km of road, 3,300km of footway, 500 traffic signals, 68,000 streetlights and over 18,000 items of street furniture in Sheffield. The concession’s length is 25 years.
The procuring authority is the Sheffield City Council, with the lenders financing the project comprising Lloyds, NordLB, KfW and SMBC. The project is also supported by the Department of Transport who have agreed to provide £1.2bn of investment across the concession.
Operis’s role included providing financial model auditing services at financial close and at all previous bid stages.