The council plans to build a 25-metre pool on vacant land at the junction of Alexandra Road and Thursfield Road.
There will also be a learner pool, gym, changing facilities and community room.
The tender for the construction of the centre has now been advertised in the Official Journal of the European Union and bidders have until noon on 24 January 2011 to express their interest.
Councillor Ian Jones, Sandwell Council’s cabinet member for jobs & economy, said: “This is another important step forward for our plans.
“We look forward to receiving bids from construction companies who want to work with us to create a 21st century swimming complex that will replace the current ageing pool and serve the people of Tipton for the future.”
It is hoped the new complex in Tipton will open in 2013.