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A partnership between Welsh Government and the private sector to deliver infrastructure schemes.

First published:
2 October 2017
Last updated:


The Mutual Investment Model (MIM) is an innovative way to invest in public infrastructure developed in Wales. MIM has been designed by the Welsh Government to finance major capital projects due to a scarcity of capital funding.

The MIM will support additional investment in social and economic infrastructure projects and help to improve public services in Wales.

MIM schemes will see private partners build and maintain public assets. In return, the Welsh Government will pay a fee to the private partner, which will cover the cost of construction, maintenance and financing the project.

At the end of the contract the asset will be transferred into public ownership.

During the construction phases of the projects, private partners will help the Welsh Government create apprenticeships and traineeships to benefit local communities.

Current MIM schemes include:

  • redevelopment of Velindre Cancer Centre, Cardiff
  • work to complete the dualling of the A465 from Dowlais Top to Hirwaun
  • additional investment in Band B of the 21st Century Schools Programme

For further information, email

Technical documents

These documents will assist parties interested in the procurement stages of MIM projects.

MIM schemes are assessed following the Better Business Cases methodology. They are assured through the Gateway process and a system of MIM commercial approval points.

The MIM is compliant with the revised Eurostat guidance that determines how public-private partnerships are treated for budgetary purposes.

The European PPP Expertise Centre (EPEC), has produced a guide to using the Manual of Government Deficit and Debt (2016).

Standard forms


Annual report and published documents

When we launched the MIM in 2017, we made a commitment to be as transparent as possible about our actions.

The first annual report describes our activities over the period June 2021 to June 2022.

The strategic partnering agreement underpins MIM investment in the Sustainable Communities for Learning Programme.

The project agreement for the dualling of sections 5 and 6 of the A465 MIM scheme governs delivery of the dualling of the final sections of the Heads of the Valleys Road.

Commercially sensitive information has been redacted from the published agreements.