The 8,100sq m, three-hall Exhibition Centre Liverpool will include an integrated hotel.
ISG beat a number of rivals including BAM, Vinci, Gilbert Ash and McAleer & Rushe according to construction information specialist Glenigan.
A planning submission is scheduled to be submitted next March 2013 with construction set to start in autumn 2013 and be completed by spring 2015.
Mayor of Liverpool Joe Anderson said: “I’m delighted that we have secured such a high quality contractor for this vital scheme.
“ISG has an excellent track record in delivering large-scale, international projects and its appointment brings our vision to deliver a world class exhibition centre at Kings Dock a major step closer to reality.
“It’s all systems go now and I’m looking forward to us working together in the coming months to progress these exciting plans.”
Plans for Exhibition Centre Liverpool include a public atrium, food and beverage outlets, meeting rooms and a business centre.
The three halls will each be 2,700sq m and will be separated by movable walls.
The facility will be capable of hosting trade and consumer exhibitions, concerts and sports events.
A procurement process will begin shortly to identify an appropriate hotel partner to work with the council.
ISG’s Jim Parker, managing director – North West, said: “As part of our commitment to generating a highly positive legacy and maximising the regional economic benefits of this key construction project, we will be working closely with the skilled local supply chain, as well as providing community employment and training opportunities.
“Playing a key role in the continuing vision for the development of Liverpool’s waterfront is an incredibly exciting proposition and we are relishing the challenge of delivering a venue that will further strengthen the city’s credentials as a world class business and leisure destination.”