Sunderland City Council will chose a winner during its cabinet meeting next Wednesday.

The three bidders that submitted final tenders are:

• FCC Construction SA
• A joint venture between Northstone (NI) Ltd (‘Farrans’) and Victor Buyck Steel Construction NV
• A joint venture between Hochtief (UK) Construction Ltd and Dragados SA

Councillor Paul Watson, Leader of Sunderland City Council, said: “The new bridge is all about bringing further regeneration, bringing improvements to the city’s infrastructure, and bringing more opportunities for more economic growth.

“The new bridge and its approach roads are linking the strategic transport corridor from the Port of Sunderland, through the city centre, past our key riverside regeneration sites and out to the A19.

“Next week we expect to finalise the appointment of our main works design and build contractor.

“Our decision is then subject to a final approval from the Government.”

The bridge is to be cable-stayed and cross the River Wear between Castletown on the north side to Pallion on the south.

It will have two lanes of traffic in both directions and dedicated cycleways and footpaths along its full length.

Subject to the decision-making processes, including final Government approvals, works are anticipated to start by summer 2015.

The council was forced to abandon original plans to build Britain’s tallest bridge with iconic independent curving pylons in 2013 after costs started to rocket.

Contractors shunned the ambitious scheme warning the project design was too high-risk a build for the £120m budget.