The new state-of-the-art facility will house pupils from St John's and Claremont Primary Schools.
Clackmannanshire Council has been allocated just over £4m from the Scottish Government Schools for the Future programme for the project.
Last week, the Council approved the signing of the contract with Hub East Central Scotland Limited for the design and build of the new school, with the signing taking place yesterday.
Robertson Construction Limited were selected as the main building contractor to deliver the project on behalf of Hub East Central Scotland Limited.
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Along with Robertson Construction, architects Keppie Design, and civil and structural engineers Blyth & Blyth will also be included in the project. Wallace Whittle have been appointed mechanical and electrical engineers.
The new build will see the creation of 18 classrooms in the modern energy-efficient building, which will be sufficient to accommodate 434 pupils when the school is due to open in August 2014.
Council Leader Councillor Gary Womersley said: "The hub process is designed to bring better value for money to construction projects and drive down costs due to the long term partnering arrangement of the Hub. This contract will represent value for money for the Council.
"It is a very exciting time. We are on track for the school to be completed in 2014.
"We appear to have a fabulous school facility on the way, which will also be a modern community facility and an asset that the whole of Clackmannanshire can be proud of."
(JP/CD)
