Construction firm Balfour Beatty has secured a £154m contract to transform the London 2012 Olympic stadium.
Balfour Beatty faced competition from Sir Robert McAlpine, ISG, Buckingham Group and Shepherd Construction.
The contract was awarded by the park operator E20 Stadium, a joint venture between the London Legacy Development Corporation and Newham Council.
The deal includes the £41m stadium roof contract that was awarded to Balfour Beatty last summer.
Balfour Beatty will lead the transformation of the stadium into a multi-use venue, which will host five matches during the rugby World Cup 2015.
Upon completion of the project, the venue will become the permanent home of West Ham United Football Club from 2016.
Balfour Beatty said the venue will also be the new national competition stadium for athletics in the UK and host elite international athletics events and other sporting, cultural and community events.
The project plan includes a new community athletics track, which will be added next to the main stadium.
Sustainable construction methods include recycling and incorporating existing features into the new facility and the re-use of demolished material, existing balustrades and sanitary ware.
Once reconfigured, the stadium’s cable net roof will be the largest cantilevered roof in the world, measuring 84m at its deepest point.
Work is due to begin early this year and is scheduled for completion in spring 2016.
Balfour Beatty chief executive Andrew McNaughton said: "During construction, our firm commitment to the use of local labour and the creation of apprenticeships will continue to benefit the local community and the wider industry and, upon completion, the Stadium will provide a first-class sporting and cultural facility for many generations to come."
Image: The reconfigured stadium’s cable net roof will be the largest cantilevered roof in the world. Photo: courtesy of Balfour Beatty.