Rochdale / Oldham street lighting PFI contractors selected
A consortium of energy firm E.ON, engineer Pell Frischmann and property company Telereal Trillium, has beaten a rival bid from a team led by Scottish & Southern to deliver a joint £222m private finance initiative.
The PFI project, funded with debt from Barclays and National Australia Bank, will involve the initial replacement of 38,000 lamp posts, along with 5,000 illuminated traffic signs and bollards. The project has a 25-year tenure with the first five years covering the replacement programme.
Corporate finance adviser Quayle Munro and law firm Pinsent Masons advised the winning consortium.