Sunderland City Council has agreed a new joint venture with Carillion, worth up to £800m over 20 years.
The new company, Siglion, will deliver the city’s regeneration programme, initially focusing on key sites across the city.
Cllr Paul Watson, Leader of Sunderland City Council, said: 'It's fantastic news that Siglion can now drive forward the city's largest-ever development programme. The signing of this contract is a major step forward in propelling regeneration and economic growth that will transform key city sites.
'It also ramps up our ability to attract new investment, following on the major works currently being carried out in Sunderland. We are excited about working with our partners who are as committed as we are to the long-term success of the city.'
