Glenrothes based Skene Group has secured several construction and civil engineering contracts worth an estimated £8m.
As well as the announcement securing the future for around 200 exsisting employees, the new business will create a number of new jobs in the region.
Contracts have been secured across Fife, Tayside, Angus and Perth and Kinross, and will include groundwork and the civil engineering for the sub-structure of the new Glenwood Health Centre.
Work will also be provided for a new depot for a multi-national Energy company in Dundee and the firm will also will carry out the civil engineering works on two biomass projects in Perth and Kinross and Tayside.
Skene Group’s managing director, Neil Skene, told the Gazette: “This is good news for the company and the local economy.
“The new contracts mean that we will be recruiting about 20 new workers.
“Where at all possible we employ local labour and sub contractors, which means the money goes directly into the Fife economy.”
He added: “We are winning contracts for different types of work across north east and central Scotland.
“This demonstrates the benefits of providing a fully integrated range of services, from quarrying to civil engineering to bricks and blocks for the building industry.
“The company is still winning contracts at a time when the economy continues to struggle.”
Glenrothes and Central Fife MP, Lindsay Roy, welcomed the announcement.
He said: “This is excellent news and Skene is to be congratulated on winning the contracts.
“The new business, which was won in the face of stiff opposition, will not only secure existing employment but will bring more jobs to the area in continuing difficult financial times.
“They are a big employer in my constituency and elsewhere in Fife and these contract gains are a major achievement.”