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CONTRACT FOR FIRST PRIVATELY-FINANCED ROAD SIGNED

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The contract to build Britain's first private road will be signed later this morning by transport secretary George ...
The contract to build Britain's first private road will be signed later this morning by transport secretary George Young, reports BBC Three Counties and BBC Oxford.

The project is the first of eight roads schemes which will be built and financed by the private sector.

The first road to go private will be the A69, which links Newcastle upon Tyne and Carlisle, but motorists won't have to pay a toll to use it.

Instead, a technique called 'shadow tolling' will be used. In exchange for spending almost £10m upgrading the road, building a new bypass round the town of Haltwhistle and then maintaining the complete 50 mile stretch, the successful private bidder will be paid a fixed amount by the department of transport for each car, lorry and bus which uses it.

Other private schemes include a new motorway linking the M1 and the A1 in North Yorkshire and the upgrading of part of the M40 in Oxfordshire.
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