IMC Worldwide has been selected to provide transaction advisory services to the Department of Education during the bidding process until financial close, to successfully award the PSIP II contract to a prospective proponent.

Since the Government of the Philippines has an objective to expand the supply of classrooms in all public school systems and cut the current shortage of around 66,800 classroom units nationwide.

The first batch of public school classrooms under PPP for School Infrastructure Project (PSIP I), involved the design, construction and maintenance of 9,303 classrooms in 2,204 public elementary and secondary schools in Region I, III and IV-A.

The Department of Education seeks to pursue the next phase of the school program (PSIP II) to supplement its current initiatives and programmes on classroom construction across the Philippines. PSIP II aims to build 10,670 classrooms in elementary and secondary school in 14 regions.

The estimated invest will be US$425 million

The Project consists of the following activities:

1. Upfront financing of the design and construction of the project;
2. Preparation of the detailed engineering design (DED);
3. Construction of project facilities;
4. Transfer of project facilities and ownership of these assets to theDepartment of Education after construction.

Source: IMC Worldwide