The A465 Heads of the Valleys road is recognised by Welsh Government as a strategically important national route and internationally is part of the Trans European Transport Network. The road is a key link to the Midlands, South West Wales and an alternative to parts of the M4.

Welsh Government have commissioned this scheme to upgrade the A465 Heads of the Valleys road between Dowlais and Hirwaun. The project’s objectives are to facilitate economic regeneration by

• Improving accessibility
• Reducing journey times
• Improving journey times reliability
• Strengthening resilience by improving standards and enhancing safety

The project will create an 11 mile stretch of high quality dual carriageway with junctions designed to improve traffic flow. It is the largest highways infrastructure project in Wales.

Future Valleys Project Co is the Special Purpose Vehicle (SPV) especially formed to finance the improvement of the A465 Sections 5&6. There are three shareholders:

• Meridiam – a French infrastructure investor and asset manager who design, finance, develop and operate transformational infrastructure, for the long term
• Concesiones – a Spanish company who develop, finance, manage and operate the social and transportation infrastructure concessions of the FCC Group
• Development Bank of Wales – who offer sustainable and effective business finance for companies based in Wales, or relocating to Wales

Future Valleys Project Co have the main contract with Welsh Government to design, build, finance and then operate this section of the A465 for the next 30 years. Future Valleys Construction (FCC Construcción (UK) Ltd) have been contracted to deliver the design and build phase. A joint venture between Alun Griffiths Contractors Ltd and FCC have been contracted to operate and maintain the road once it has been completed.

FIM provides a range of financial services to the A465 sections 5 & 6 Project.