12 June 2012
Caerphilly county borough council's Capital Spend will benefit from a boost of £2.8 million, due to the Welsh Government's Local Government Borrowing Initiative (LGBI).
Welsh Government recognises the importance of highway investment. In order to bring in much needed funding Welsh Government have committed to providing Capital funding to local authorities over the next 22 years which will allow local authorities, including Caerphilly, to raise £8.4million through prudential borrowing that will be invested over the next three years.
This new support will allow the council to address the pressures on road maintenance budgets and will increase investment into highway improvement schemes which benefit the entire borough.
The money supplied by the Welsh Government will go towards highway improvement projects, land drainage schemes, highway drainage schemes, and bridge refurbishments, across the borough from Brithdir to Crosskeys.
Cllr Tom Williams, Cabinet Member for Highways, Transportation and Engineering in Caerphilly CBC, said, "The council is committed to providing continuous improvements to our highways for the benefit of all those who travel on them. The extra support we have received from Welsh Government will allow us to continue necessary improvements, while also providing numerous job opportunities for our local people, boosting local economy."
Transport Minister, Carl Sargeant, added, "Thanks to close collaboration between the Welsh Government and local authorities we are seeing a significant increase in the ability of local authorities to fund major improvements to our highways. This money will help them to improve the condition of our roads, reduce travel times and increase safety for motorists and cyclists."
Due to this extra support improvements will be given the go ahead on carriageways and footways across the borough, as well as improvements to roads and structures in Bedwas, Newbridge, Ynysddu, Crosskeys, Crumlin, Aberbeeg and Trinant.
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