Ministers published the strategic business case for the Scottish Futures Trust, which will be supported by a new company established in the public sector.
The new company will aim to release up to £150 million each year for increased investment in infrastructure, including the use of a non-profit distribution model.
First minister Alex Salmond said: “By releasing up to £150 million each year for increased investment, we can ensure more resources for our public infrastructure compared to wasteful PFI.”
The Scottish Futures Trust will be formed this summer and work with the public sector and marketplace.
Part of its work will include creating a Infrastructure Investment Plan based on ten-year investment strategies, as well as advising the Scottish Government on market issues and capacity.