The Carlisle Northern Development Route project includes the construction of an 8.25km road that will include 8 new roundabouts, 3 new bridges, 4 underpasses, 15 flood relief culverts, and 3 traffic counters. The project will also include the operation and maintenance of a number of other key roads, with a total length of 150km in North and West Cumbria for a 30 year period.
The project aims to greatly improve road links between West Cumbria, Scotland and the North East as well as maximising development opportunities at Kingmoor Park and improving traffic flow through the Carlisle city centre.
Balfour Beatty are the project sponsors and construction will be undertaken by Birse Civils, a wholly owned subsidiary of Balfour Beatty. Construction of the new road is scheduled to be completed by February 2013, with operations running through to July 2039.
The £73.6m of senior financing will be provided by Barclays, SMBC and National Australia Bank. An additional £10.8m facility will cover the construction period.
Operis was engaged to provide financial model auditing services and a full tax and accounting review on behalf of the funders, sponsors and Cumbria County Council.