In cooperation with the team, the Project Committee shall prepare a preliminary study on the joint project, which deals with the technical, economic, legal and financial aspects, the extent of investor interest and the possibility of attracting necessary financing. The Project Committee shall submit a report including its recommendation in this regard to the Financial and Economic Committee, through The Ministry.
The Project Committee shall be formed under a resolution issued by the competent minister/chairman to assume the preparation of preliminary studies and then manage the project awarding. The committee shall be headed by the undersecretary/ general director of the entity concerned with the project and shall include a representative of the Technical Bureau as well as members from inside and outside the concerned entity, if required.
The Project Committee shall be the executive arm of the Financial and Economic Committee and aims at promoting the cooperation between the concerned Federal Entity and The Ministry, a matter that assists in achieving excellent results at the level of the joint project awarding. Being an effective element in the success of joint projects, Project Committee is entrusted significant powers to do this central and leading role, starting from studying all the details of the project and take the procedures to select the private partner, and ending on awarding the contract.
It is important for The Ministry to participate in this committee in order to study the financial burden and the extent of the project's future effects on the UAE budget and ensure the availability of adequate financing throughout the project implementation period. The Project Committee shall be assisted by legal, financial and technical consulting firms, where required.
To assist it in performing its functions, the Project Committee shall form a team consists of specialists form the Technical Bureau, legal, financial and technical consultancy experts, the authority supervising the sector regulation, if any, and any other person or entity that some aspects of the joint project fall within his powers.