Contractor J Tomlinson has secured a £30m contract with Ashfield Homes.
The Nottingham-based company has been appointed to carry out investment works to Ashfield District Council's housing stock over the next five years.
The deal represents J Tomlinson's largest ever single contract.
Ashfield Homes manages the council's rented housing stock of approximately 6,900 properties,
Works will involve replacement kitchens, bathrooms, central heating systems, electrical installations, roof coverings, windows and external doors.
Other improvement works for tenants include carbon and environmental efficiency saving measures.
Steve Kirkland, Managing Director of J Tomlinson, said: "This is the largest single contract we have ever been awarded and will lead to the creation of up to 40 new jobs in the local area, and will provide work for at least 12 apprentices over the next five years.
"We have worked on refurbishment, maintenance and repairs contracts for Ashfield Homes for more than ten years now, and we are genuinely excited about the prospect of further strengthening our close working partnership with Ashfield Homes."
(LM)
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