Public Private Partnerships
For further information
- Phone: +61 7 3224 5437
- info@treasury.qld.gov.au
Treasury is the Government's financial and commercial adviser on Public Private Partnerships project implementation.
The State's Public Private Partnerships Policy - achieving value for money in public infrastructure and service delivery is a key strategic initiative. It supports the Queensland Government's central economic objective of achieving high and sustainable levels of economic growth and employment by providing efficient and effective services and infrastructure.
The objectives of Public Private Partnerships are to:
- deliver improved services and better value for money through appropriate risk sharing between public and private sector parties,
- encourage private sector innovation,
- optimise asset utilisation, and
- integrate whole-of-life management of public infrastructure.
The Public Private Partnerships Policy applies to public infrastructure projects where the expected capital value will exceed $30 million or the whole-of-life cost of delivering the facility will exceed $50 million.
Public Private Partnerships relate to the delivery of hard and soft infrastructure facilities, such as roads, rail, IT service delivery, brownfield redevelopment of existing facilities and delivery of non-core services including maintenance and security. Providing core public services that involve direct delivery to the public are not included in the policy.
Public Private Partnerships cover a spectrum of project delivery options which apply to projects involving: design, build and operate (DBO); design, build, finance and operate (DBFO); and equity sharing arrangements. The policy also encompasses variations on these concepts, including: build, own, operate (BOO) and build, own, operate, transfer (BOOT).
The policy is underpinned by guidance material which provides a consistent and rigorous assessment of the potential for private sector involvement in major infrastructure projects and related services.
The Value for Money Framework is a key element of the guidance material which provides the basis for implementation of Queensland's Public Private Partnership Policy. It sets out comprehensive procedures for evaluating project delivery options to satisfy specific needs for infrastructure.
Government agencies have primary responsibility and accountability for the delivery of Public Private Partnership projects within their portfolio. Agencies should establish:
- a committee to oversee the development and implementation of projects; and
- a management team responsible for day-to-day project management.
The committee and management team should include representatives from the Department of State Development's Infrastructure Partnerships Taskforce. The Taskforce is the central coordinating body for the ongoing development of the Public Private Partnership Policy and guidance material and its application to projects within other agencies.
Treasury assists the Taskforce in the ongoing development of the policy framework. In our capacity as financial and commercial adviser to Government, Treasury works with the responsible agency and the Taskforce on projects being progressed under the value for money framework.
For more information, visit Public Private Partnerships on the Department of Infrastructure and Planning website.
Last reviewed 14 September 2009
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