Speaking during the Assembly debate on PFI the Minister said they must consider how and where the private sector can best play its part in delivering new infrastructure
He said the Executive does not hold any special preference towards Private Funding Initiatives (PFI), but stressed the need to keep funding options open.
"We have suffered from many years of underinvestment. This can be readily seen today in the state of our ageing hospitals and schools, the inadequacy of our social and affordable housing stock as well the deterioration in our roads, sewers and water systems.
"The renewal and development of our infrastructure is a tangible aspect of the wider political and economic transformation that must take place if our people are to prosper. We must do everything possible to maximise the results for our people within the resources available to us.
"This Executive does not hold any special preference towards PFI as a funding mechanism. We expect that most of the Investment Strategy will be delivered by conventional funding. PFI should only be used where it clearly demonstrates better value for money than a conventional option over the lifetime of the contract. There should be protections and safeguards built into any PFI projects which protect the rights of affected workers and which safeguard public finances.
"There is continual review of the use of PFI and in response to concerns, a much more detailed approach has been adopted reflecting the experience gained and lessons learned.
"It is critical that we use our unprecedented opportunity for new investment wisely. That means creating the right infrastructure to meet the present and future needs of our people, and acquiring it at best value for money over its lifetime," he added.
Mr Kelly also said the Strategic Investment Board (SIB) had a critical role in helping the Executive to mobilise effectively the £20bn available for investment over the next ten years. He told the Assembly that the Executive had responsibility for more than £720 million worth of PFI contracts and that recent deals had resulted in substantial savings.
Notes to Editors
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