Mandatory minimum requirements:
• A public infrastructure project with a total estimated capital value exceeding $200 million, must be assessed for possible PPP procurement.
• The Business Case and Procurement Strategy must be completed prior to seeking Cabinet approval for the Final Investment Decision.
• A preliminary Public Sector Comparator (PSC) and a Shadow Bid Model (SBM) must be developed during the Business Case and Procurement Strategy phases unless otherwise agreed with NSW Treasury.
• Responsible Agencies must consult with NSW Treasury on the approach to the Public Sector Comparator to assess the PPP project's value for money.
• The Responsible Agency must consult with NSW Treasury in relation to the risk-free rate to be used in a PSC.
• A Public Interest Evaluation (see Appendix 1) must be completed and submitted for Cabinet consideration prior to engaging with the private sector.