The contract, which forms part of a £57m major redevelopment at the Bank/Monument interchange, will provide a new step free entrance at the station giving passengers direct access to the Waterloo and City Line from Walbrook Square.

The Waterloo & City line station ‘box’, which is being built by Sir Robert McAlpine while it is working on media firm Bloomberg’s new European headquarters, is an underground structure that will enable the subsequent installation of four new escalators, two new lifts and a new ticket hall.

To achieve planning consent Bloomberg agreed to work in partnership with London Underground to help increase the capacity at Bank Station.

Bloomberg’s contractors will hand over the box to London Underground next summer, with the final fit-out scheduled to be completed by the end of 2017.

Bank station currently serves 98 million passengers per year and is one of London’s busiest Tube stations.

These works form part of London Underground’s station capacity programme to enlarge and make step-free the capital’s busiest stations.

In a separate project TfL are also planning to redevelop the Northern line part of the interchange, which includes building a new Northern line southbound running tunnel that will create more platform space, interchange tunnels and an additional station entrance, as well as step-free access to the Northern line platforms.

David Waboso, London Underground’s Director of Capital Programmes, said: “The award of this contract is an important step on our journey to deliver a bigger and better Bank station that can meet the challenge of increasing demand and help to provide quicker and easier journeys for customers.

“The step-free Waterloo & City line entrance and ticket hall, with new escalators and lifts, form a key part of our upgrade plans for Bank, one of London’s busiest stations.”