The E20 Stadium Partnership, set up between the London Legacy Development Corporation and Newham Council, has awarded a £154 million contract to Balfour Beatty to lead the transformation of the Stadium into an all round multi-use venue, delivering a lasting sporting, cultural and commercial legacy in east London.

Last summer Balfour Beatty was awarded the contract to convert the Stadium roof and will now lead the remainder of the transformation works of the Stadium including constructing the warm-up track, spectator and hospitality facilities, and the external landscaping.

This will deliver a multi-use sporting venue ready to host five matches during Rugby World Cup 2015, be the permanent home of West Ham United Football Club from 2016, and the new national competition stadium for athletics in the UK hosting regional and national age group championships, as well as elite international events including the annual IAAF Diamond League meeting, 2017 IAAF World Championships and 2017 IPC World Athletics Championships.

The Stadium will be used for other sporting, cultural and community events as well as a range of community benefits for local residents. A new community athletics track will also be provided next to the main stadium funded by a London Marathon Trust grant.

During construction Balfour Beatty expects to employ up to 400 people and will work with Workplace, Newham Council’s employment service, to employ local people where possible. Balfour Beatty is also committed to providing apprenticeships amounting to seven per cent of the total workforce.

Sustainable construction methods will be used, including recycling features of the existing stadium into the new scheme and the re-use of crushed demolition material.

Dennis Hone, Chief Executive of the Legacy Corporation, said: “This is another milestone in the development of Queen Elizabeth Olympic Park. We go into 2014 on track to deliver a world class venue that, when it fully opens in 2016, can be used year round to host a whole range of sporting, cultural and community events. The Stadium will be a truly remarkable legacy here in east London.”

Mayor of Newham Sir Robin Wales said: “This is a major step forward in ensuring the Stadium in Queen Elizabeth Olympic Park offers a lasting community legacy of jobs, education and grassroots sport. The Stadium is an inspirational place. The conversion work will mean it continues to be a world class visitor attraction that is good for the residents of Newham, London and the nation as a whole.”

Balfour Beatty Chief Executive, Andrew McNaughton said: “We are delighted to be continuing our activity on Queen Elizabeth Olympic Park supporting the legacy commitment made as part of the London 2012 Olympic and Paralympic Games. 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 which Balfour Beatty is proud to be associated with.”

Works will commence on site in early 2014 and are due for completion in the spring of 2016.