New South Wales Premier, Nathan Rees, has unveiled his new look Cabinet, appointing former roads minister Eric Roozendaal as the state's new Treasurer and handing Labor heavyweight Joe Tripodi the finance portfolio.

Mr Rees met with Caucus yesterday and negotiations for government portfolios in Australia's most populated state were only finalised this morning.

Mr Roozendaal has been handed the difficult task of bringing down a mini-Budget in eight weeks and convincing credit ratings agencies to maintain the state's AAA rating.

It comes after a tumultuous day on Friday in which Treasurer Michael Costa was sacked by then-premier Morris Iemma, who later resigned after failing to win the Right faction's support.

As expected, Deputy Premier Carmel Tebbutt has been handed the environment and climate change portfolio, while Joe Tripodi will take on finance.

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