Wates Construction will build the Sandwell Aquatics Centre in Smethwick.
The state-of-the-art facility will host swimming and diving events as part of the Birmingham Games in 2022 before becoming a new leisure centre for the public. Construction work is expected to begin soon on Londonderry Lane.
It will feature a 50m Olympic-sized swimming pool as well as a 25m diving pool, community swimming pool and seats for up to 1,000 spectators.
John Carlin, regional managing director for Wates Construction Midlands, said: “Here in the West Midlands we’re currently experiencing a tremendous renaissance in our local infrastructure. This project – and the wider regeneration of the borough of Sandwell – will create a lasting legacy for local residents and put Sandwell on the map for its world-class facility.
“Every project we deliver has the community at its heart and we’re looking forward to working alongside our partners to ensure this project provides significant economic and social value from the outset. The result will be a landmark facility that will be transformational for this borough.
“We’re pleased to sign the formal contract confirming our position as main contractor and now have two years of a challenging but hugely exciting build ahead of us.”
Councillor Maria Crompton, leisure boss at Sandwell Council, said: “The aquatics centre will give us an international-standard venue for the local community, replacing ageing leisure facilities with a modern hub designed to promote health and wellbeing across the district.”