The pre-construction services deal with Interserve to build Hampton Lakes Primary School is one of two new deals signed in the wake of Carillion’s collapse.
The council has also confirmed that local firm R G Carter will restart work shortly to expand the Jack Hunt School in Netherton, where work had to be halted at the start of the year.
When fully up and running in September next year, the Hampton school will provide 420 new primary school places for children living in Hampton East and the wider Hampton area, and 26 nursery places.
It will be built to the east of the A15 near Teardrop Lake in the new Hampton communities to the south of Peterborough.
At the stalled £8m Jack Hunt school expansion project work is now set to be completed next June on 11 new classrooms, a science classroom, an unlit all-weather sports pitch and new dining hall and kitchen constructed.
The expansion will enable the school’s capacity to increase from 1,800 to 1,950 pupils.
Councillor Lynne Ayres, Peterborough City Council’s Cabinet Member for Education, said: “As the fourth fastest growing city in the country, the need to create extra school spaces is an urgent one and we are actively working to address this.
“We are committed to providing sufficient classroom spaces to ensure that the educational needs of children and young people in the city continues to be met.”