Interserve is expected to start work on site in October, building three principal buildings to house waste treatment facilities, offices and depot facilities.
The deal forms part of a £626m agreement signed between Serco and Sandwell Metropolitan Borough Council to collect and treat household waste.
The Eco Park development is the second half of Sandwell’s waste management plans, alongside the Serco agreement Sandwell will send 60,000 tonnes of residual waste a year to be incinerated at a separate PFI-funded energy-from-waste plant at Four Ashes.
Sandwell is aiming to reach a 50% recycling and composting rate by 2015 and to reduce the amount of waste it sends to landfill to just 5% by 2020.