The Welsh Government has published information on the upcoming tender of the second phase (Band B) of the 21^st Century Schools and Education Programme. A single private partner is to be procured to form a new Welsh Education Partnership Company (WEPCo) vehicle with the Welsh Government, which will deliver infrastructure services to the government, local authorities and further education institutions in Wales.

The WEPCo will enter into a Strategic Partnering Agreement (SPA) with government bodies, local authorities and further education institutions under which it will provide project development and delivery services and supply chain assembly and management.

The initial term of the partnering arrangement will be ten years, with an optional five-year extension. The Welsh Government plans to launch a tender for the private partner on 10 May 2019.

The partnership will be structured using the Welsh Government's Mutual Investment Model (MIM). Similar to the Scottish non-profit distributing model for public-private partnerships (PPPs), it ensures that project investment is classified to the private sector, and is consequently additional to investment funded from capital budgets.