The company will be building the school for the council under the government's private finance initiative (PFI) and plans have already been approved by the council.
The new school at Glebelands will replace Durham Road Infants and Junior Schools and Rockfield Nursery, and the final contract signings are expected in March.
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The cabinet member for young people's services, Cllr Bob Poole, said: "This is an important milestone and I am delighted that the contracts are due to be signed shortly. This is great news for everyone involved in the new school.
"Once the contracts have been signed, work will begin on the new state-of-the-art facility as soon as possible. We expect the school to be completed towards the end of 2009, enabling the new school to open to pupils in January 2010."
Due to the withdrawal of Charles Church Developments Ltd from the housing element of the scheme, contractual negotiations are currently taking place with other developers and Vinci.
Although the residential development is an important part of the project, the financial agreement with Vinci will allow the school to proceed ahead of a new developer being selected.
Consultation has already taken place with residents and parents, and during the construction of the new school, the council will work closely with residents living on or close to the access routes to the development site.
(CD/JM)
