VINCI – A construction company to watch.

VINCI, one of the worlds largest construction companies, is making serious money out of toll roads. It builds and manages toll roads and car parks throughout Europe and has just announced profits on its toll road concessions of €653M, a  rise of 7.2% on the year. Toll roads, widespread on continental Europe, have huge environmental benefits. They put journey costs where they belong, on the car and lorry drivers. They make costs explicit, so people think twice about their journeys and if they can, go by rail. Finally, by reducing congestion, those who really must go by road get to their destination quicker, and release less pollutants while waiting in stationary traffic.

The pity is that direct driver tolls are hardly used in the UK.  Although VINCI has been awarded many PFI (private finance initiative) projects, such as the recent €92 million project to construct a 9km rapid transit dual carriageway around the town of Newport, South Wales and a 190 metre bridge over the river Usk, they will be paid through a shadow toll system.   Annualised payments will be calculated according to lane availability and road traffic performance criteria.

iGreen opinion.

NOTE

Under the British PFI system, central government and local authorities can entrust the management of a public service to a private operator, for a pre-determined length of time, in exchange for its refurbishment, construction or maintenance.
www.groupe-vinci.com