Oxfordshire is hoping to secure £100m to turn its secondary schools into "world-class facilities".
The county has learnt it may be able to tap into a major Government programme to revamp its secondary schools years earlier than had been expected.
Oxfordshire had been viewed as too prosperous to join the first wave of schools in the Building Schools for the Future (BSF) programme, viewed as a once in a generation chance to rebuild schools.
But it now looks like Oxfordshire could be fast-tracked, with the county council undertaking an area-by-area assessment of secondary school facilities.
If the bid proves successful, secondary schools could look forward to seeing millions of pounds for rebuilding work, refurbishment and extensions, with some schools rebuilt altogether.
The BSF money could be available from as early as 2010 and is to be focused on schools "where there is need to raise achievement" - more often than not in more deprived areas of the county.
With only 57 per cent of the county's pupils achieving five GCSEs at grade C and above, Oxfordshire's poor performance compared with similar counties could prove crucial in winning a share of the biggest ever schools investment programme.
The news follows last month's announcement about a £67m improvements package for Oxfordshire's primary schools.
Under the Primary Capital programme, schools in Barton and Wood Farm are to be rebuilt, with others to benefit from major extensions.
Irene Kirkman, of the county's Raising Achievements Service, said Buildings Schools for the Future was an even bigger scheme than Primary Capital.
She said: "This is a real opportunity for Oxfordshire. We are looking at a big investment of £100m plus. Work would include school extensions, refurbishments and new build. There are various hoops that we must go through and now we have to get on with the detailed work."
She said it was too early to indicate which local schools would benefit.
However, the situation is complicated to a degree, because under the BSF regulations, Oxfordshire would be required to deliver the services in partnerships with the Government agency Partnerships for Schools, to ensure value for money for taxpayers.
More controversially, the local education authority would be expected to work with a private company in a 'local education partnership'. The private company would be selected to provide expertise to construct, maintain and operate the new schools.
But Ms Kirkman insisted that it did not mean any surrender of county council responsibility for schools.
Andrew Hamilton, pictured, head of Bartholomew School, Eynsham, said: "It sounds like a large sum of money. But in Oxfordshire we need that kind of investment to bring the buildings up to a quality worthy of the 21 century.
But Brenda Williams, secretary of the Oxfordshire branch of the National Union of Teachers, expressed unease.
She said: "There is a huge need for investment. But we are dubious about anything that involves private investment in the public sector."
County council member for schools Michael Waine said that many of Oxfordshire's secondary schools dated back to the 1950s and were "unsuitable" for the 21st century.
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