Six local schools will be combined to establish the Strule Shared Education Campus in Omagh, which will include special education, non-selective education, and grammar instruction on the site of the former Lisanelly Army Barracks.
More than 4,000 kids and teenagers from all backgrounds will converge on the campus to pursue education.
The programme aims to facilitate collaboration across schools by offering a common curriculum and an extensive array of extracurricular activities.
"The Strule Campus will be the largest education construction project ever delivered," stated Paul Givan, Minister of Education.
"Over the next many decades, the future growth of education in Northern Ireland will be guided by this innovative and novel approach.
"Shared Education has a key role in developing a peaceful and shared society and the Strule Campus is a vital component in the Executive’s vision of delivering a more peaceful and prosperous society for all.”
On the 125-acre site in Omagh, the initiative aims to create six core schools (five post-primary and one special school) together with related shared education facilities, such as a shared sports facility, shared education centre, sports pavilion, and related synthetic fields.
Christian Brothers Grammar School, Loreto Grammar School, Omagh Academy Grammar School, Omagh High School, Arvalee School and Resource Centre, and Sacred Heart College are the educational institutions engaged.
On the Strule site, Arvalee Special School has already been built; according to a December BBC NI report, over £44.4m has been spent on it, along with site preparation work and a new road network.
The project has had delays in the past, and earlier this year, it was said to have cost an estimated £341 million more than originally estimated.