Proponents may apply to the Minister for MPF services if their proposed project meets the following criteria:
1. The project is of strategic significance to Australia
- The project's estimated investment exceeds A$50 million and makes a significant contribution to economic growth, exports, employment and/or infrastructure development.
- Or, the project will have significant net economic benefit for regional Australia, taking account of a region's investment needs.
In certain cases, the size of the project will mean that this criterion will be readily satisfied. The value of land and capitalised lease payments are excluded and the major elements of total capital expenditure should be provided. The major items of capital equipment in the project need to be identified and cost estimates from relevant pre-feasibility or feasibility studies should be submitted. Employment numbers for various phases of the proposed project should also be included.
2. Requires Australian Government approval(s) administered under Australian Government legislation in order to proceed and/or significant Australian Government involvement, including through other Government programmes
Australian Government approvals that may be required include:
- Environmental and heritage approvals;
- Customs and quarantine approvals;
- Approvals under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 and related Acts;
- Foreign investment approval;
- Import tariff concessions;
- Access to employment and training programmes;
- Assistance under immigration programmes; and
- Compliance with Australian Government legislation.
If MPF services are granted, the Department can assist proponents with further information on approvals that may be required or relevant government assistance programmes.
As projects are typically awarded MPF services for a period of three years, proponents will normally be expected to be ready to complete the Australian Government approvals process within this three year period. Arrangements may differ depending on the project; therefore, proponents should contact the Department for further information.
3. Has sufficient financial resources and support to: complete the Australian Government approval(s) process; and have reasonable commercial viability.
Proponents seeking MPF services need to demonstrate the extent of financial support for the project—sufficient at least to carry it through the approvals processes. The Department will seek information to show that the project has demonstrated early engagement with relevant state or territory governments, attracted adequate funding and other support, including experience and proponent history to sustain it through the approvals processes.
Evidence of adequate funding and support to enable the project to successfully complete approvals processes and the project's general viability may take many forms. These may include:
- Evidence of early engagement with state or territory governments;
- Demonstration of engagement with or support from local government organisations and communities;
- Resolutions of support from the Board of a parent company, or a letter of support from a parent company, financial organisation or other investor;
- Letters of Intent, Heads of Agreement or other commercial documents, offtake and supply agreements, audited company accounts etc; and
- Feasibility studies, business case or financial viability assessments.