DET received five registrations of interest in PFP2. Three of the registrants were short-listed to submit detailed proposals for the project.
DET let PFP2 in December 2005. In this case the proponent offered an actual bid of around $143.7 million, which was similarly adjusted upwards by $5.0 million to $148.7 million to ensure compatibility with the State's allocation of risks better carried by the private sector. Again, the proponent's bid was based on their future service payments over the contract period, discounted to provide a present equivalent value.
Finally, the second contract also adopted a variant proposal to replace a Central West school destroyed by fire. This increased the net present cost to $178 million.