North Lanarkshire Council has selected three preferred bidders for building and road maintenance contracts worth £700m.
Morrison Facilities Services will do the property maintenance; Amey is preferred bidder on the roads work and ALH86 will do the central heating work.
The joint venture agreements last 10 years, whiletThe council will retain 33% of each joint venture company.
Deputy leader councillor Jim Smith said: “We are delighted to move forward with our new joint ventures. When we originally set these up 10 years ago we did not expect the levels of growth that our current joint ventures delivered but the fact that they have consistently exceeded both operational and financial targets is terrific news for everyone.
“However, these businesses are about more than money. Our residents expect quality services and the new joint ventures will be a way to continue to deliver that. Just as important, though, is what these companies can deliver for North Lanarkshire in terms of training, employment and investment in the local economy and I am confident that we will see real, lasting benefits in all these areas.”
The incumbent joint venture companies were set up in 2000 and delivered a net profit of nearly £7.5m this year, according to the council.