The new Wight Building Materials Limited jv will supply asphalt, concrete, pre-cast and aggregate materials to the Island Roads consortium which consists of VINCI Concessions, Meridiam Investments and Ringway.

Work started on the 25-year highways contract in April.

Aggregate Industries already trades on the Isle of Wight through a subsidiary called Bardon Vectis.

Wight Building Materials will comprise virtually all of the existing Bardon Vectis holdings on the Isle of Wight, including the existing asphalt plant at Blackwater Quarry, St George’s Down.

Scott Wardrop, Managing Director of Eurovia Group, said: “We are very pleased to announce the formation of Wight Building Materials, a full joint venture company between Eurovia and Aggregate Industries.

“Wight Building Materials will produce and supply building materials across the Island and with the addition of the Highways PFI, it will make the business more sustainable for the employees and allow the shareholders to invest in new high performance asphalt production and asphalt recycling for the future.”

Aggregate Industries Director of Aggregates and Cementitious Materials, Philippe Frenay, added: “Through Bardon Vectis, Aggregate Industries has been working on the Isle of Wight for 30 years and our staff on the Island are pleased to have the opportunity to be part of this upgrade and improve the roads across the Isle of Wight.”