Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: May 4, 2010

Project Name: A249 Stockbury to Sheerness
Year in Operation: 2006
Sector: Transportation
Subsector: Roads
Status: In Operation
Type: New Facility
Description: The A249 Stockbury (M2) to Sheerness project is a Design, Build, Finance and Operate (DBFO) contract which the Highways Agency has awarded to Sheppey Route Limited, a company established by Carillion Private Finance. As part of the project Sheppey Route Limited will construct the 5km long A249 Iwade Bypass to Queenborough Improvement, which is a scheme in the Department's Targeted Programme of Improvement (TPI). This scheme provides a new high level fixed link crossing of The Swale and will extend the existing dual carriageway road northwards to Queenborough. At present the only road access to the Isle of Sheppey is via the existing A249 trunk road, which is carried by a lifting bridge over The Swale estuary. This bridge also carries the only railway link between the mainland and the island. Since marine traffic on The Swale has right of way considerable delays are caused to road traffic when the bridge is raised. The new high level Swale Crossing will eliminate the delays, improving access to the Isle of Sheppey and fostering improved and sustainable growth in the area. The cost of the project is approximately £100m at today's prices. This figure includes for the operation and maintenance of the whole route, which will be undertaken by Sheppey Route Limited under the DBFO contract until 2034. The construction of the new Swale Crossing marks an important milestone in the Isle of Sheppey's future. In December 2004 a time capsule was buried within one of the main bridge piers situated between The Swale and South Marsh Railway Bridge on the Island. This initiative, proposed and achieved by a local school, is evidence of the community's continued interest in the Improvement Scheme. Interest has also been received from other educational establishments from primary to university level, local interest groups and other organisations.
Delivery Method as described in the country where it's located: Private Finance Initiative (PFI)
Is the project still active: Yes
Comments: Design, Build, Finance, Maintain and Operate. No tolls: Government pays

Project Locations

Address:
City: Dartford, Gravesham, Sittingbourne & Sheppey
State:
Country: United Kingdom of Great Britain & Northern Ireland

Address:
City: Dartford
State:
Country: United Kingdom of Great Britain & Northern Ireland

Address:
City: Gravesham
State:
Country: United Kingdom of Great Britain & Northern Ireland

Address:
City: Sittingbourne
State:
Country: United Kingdom of Great Britain & Northern Ireland

Address:
City: Sheppey
State:
Country: United Kingdom of Great Britain & Northern Ireland

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: All main roads such as this in the UK are owned by the Secretary of State for Transport.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s)

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: Government pays producers for usage, upon completion of initial delivery of the project.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Royal Bank of Scotland provided debt

Checkbox Checked

From Producers as Equity: Sponsors provide equity

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
30
0
Forms
Description
Other
 

Project Value (If and As Known)

Date of Estimated Project Value: May 4, 2010
Project Value
Hard Cost
Hard & Soft Costs
Total
< $200 Million US
(none)
Array ( )

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