British-based manufacturer Bombardier has secured a lucrative contract to supply trains to the London Crossrail project.

The train maker beat off foreign competition including Japan’s Hitachi and Spanish firm CAF to land the contract.

Bombardier confirmed the new trains will be manufactured and assembled at their plant in Derby. The contract will support 760 UK manufacturing jobs plus 80 apprenticeships.

It also confirmed an estimated 74% of contract spend will remain in the UK economy.

The Crossrail project, which is half-completed, will see 26 miles of new tunnels constructed under London and link the capital to the south east of England.

It is expected to open in December 2019.

The line is due to run from Maidenhead and Heathrow Airport in the west, to Abbey Wood and Shenfield in the east.

In 2011 the company lost out to German based firm Siemens for a £1.6 billion to provide trains for the north-south Thameslink scheme.

The contract between Transport for London and Bombardier covers the supply, delivery and maintenance of 65 new trains and a depot at Old Oak Common. The contract award is subject to a 10 day standstill period.

Mayor for London Boris Johnson said the decision will help “revolutionise” rail travel in London and deliver jobs and economic growth across the UK.

“With a firm on board to deliver a fleet of 21st century trains and the tunnelling more than halfway complete, we’re on track to deliver a truly world-class railway for the capital.”

Transport secretary Patrick McLoughlin said: “This announcement will mean state of the art trains providing quick, comfortable journeys for the millions of people Crossrail will serve.

“It is also great news for British manufacturing and for Derbyshire.”