The scheme will see the UK’s first moveable weirs installed replacing existing fixed weirs at Crown Point and Knostrop on the River Aire
Under the deal with Leeds City Council, the joint venture will carry out works extending for 4.3km from the city mainline railway station to Knostrop.
The city has been close to major flooding five times over the last decade. The new weirs are made up of a row of steel gate panels supported on their downstream side by inflatable air bladders.
These can be lowered to reduce river levels and the threat of river flooding.
An island at Knostrop Cut, which separates the river from the canal will also be removed to allow the river and canal to merge and assist the flow of water in flood conditions.
Linear flood defences in the form of walls and hard landscaping in the city centre will also be constructed.
On completion this scheme will provide the city centre, over 3,000 homes and 500 businesses with protection against a one in 75 year flood event from the River Aire and Hol Beck.
The project will take 125 weeks with a completion date of March 2017.