The deal is to provide civil engineering, M&E and fire protection services for a number of strategically located sites across the network to support the Automatic Train Control Signalling Project for London Underground.
It is the first time FM Conway has been appointed as a tier-one contractor to a large rail operator.
The deal is also the first major win led by newly appointed head of rail Wayne Frewen.
Conway is targeting significant growth in the rail sector while maintaining its position as a leading highways contractor in Greater London.
Frewen has spent 18 years in the UK rail sector holding senior project lead roles with Transport for London, Morgan Sindall, Crossrail and, latterly, Network Rail.
He said: “FM Conway is widely recognised as the market leader in the London highways sector.
“What many don’t know is that the company has a strong heritage in the rail sector too, having delivered projects ranging from rail bridge maintenance works through to depot construction contracts.
“We have a strong team here with an exceptional amount of experience delivering rail-related projects.
“The contract with TfL is just the first step in an exciting journey for FM Conway’s rail division, and I can assure you that we will be achieving further growth and success in this sector in the months and years to come.”
Andrew Hansen, chief operating officer at FM Conway, said: “Wayne has a remarkable track record in rail, having been instrumental in the successful delivery some of the sector’s largest and most high-profile projects.
“He is undoubtedly the right person to take our rail division to the next level and will be a valuable addition to the FM Conway senior team.”