UK's Education Funding Agency (EFA) has shortlisted 3 teams for the fifth Priority School Building Programme (PSBP) private finance batch.

The project will be developed on a design, build, finance and maintain (DBFM) basis. The three firm shortlisted are the following:

• Bam PPP,
• a Carillion/Equitix joint venture and
• an Interserve/Kajima joint venture

The proposed term of the contract will include an estimated 24 month construction phase and a 25 year operational term from the service commencement date of the final school to be completed in this batch.

The project cost is estimated between GBP100 million and GBP 150 million.

The schools involved in this batch are located in Midlands region. They are the following: Alfreton Grange Arts College; ARK Kings Academy; Greenwood Academy; The Phoenix Collegiate; Plantsbrook School; President Kennedy School; Queen Elizabeth School; and Top Valley Academy.

In March 2014 EFA announced the award of the first batch of privately financed priority schools to a joint venture between Interserve and Kajima.

The agency also recently announced that Miller Construction had been selected as the preferred bidder to design, build, finance and maintain new educational facilities and provide services for batch 2.

Shortlists have been announced for batch three and four of the programme.