Transport Scotland has announced today that Scottish Roads Partnership (SRP) - a consortium formed by Amey Ventures Asset Holdings Limited, Cintra Infraestructuras S.A, Meridiam Infrastructure Finance II and Uberior Infrastructure Investments (No.4) Ltd- has been selected as preferred bidder for M8 M73 M74 motorway improvements DBFOM.

The project will complete the motorway network between Glasgow and Edinburgh by upgrading the A8 Baillieston to Newhouse. It also includes work to improve the Raith Interchange and widening key sections of the M8, M73 and M74. When completed the new section of road will shave up to 18 minutes off journeys at peak times for vehicles using this busy sections of the M8 each day.

This is the first roads infrastructure scheme to be procured as part of the £2.5bn Scottish Government's Non-Profit Distributing Model.

Work on the site is expected to begin late this year and the project is currently on track to be completed by Spring 2017.

On 25 February 2013, Transport Scotland narrowed down the shortlist for the M8 M73 M74 Motorway Improvements to two bidders. The consortium Connect Roads - formed by Balfour Beatty Capital Ltd and Galliford Try Investments Ltd- was the other team shortlisted for the project.

The estimated investment for the project is £415 million.