A company in Billingham, Teesside, has been chosen to work on the development of the new national stadium.

Knowles Capital Projects will provide construction, technical design monitoring, risk management, financial and commercial advice for the £750m project at Wembley.

The company was chosen by the scheme's public sector financiers - Sport England, the Department for Culture, Media and Sport, and the London Development Agency.

Knowles, a subsidiary of construction consultancy James R Knowles (Holdings), operates from a head office in Billingham and has further offices in Newcastle, York and London.

It has worked on similar projects, including monitoring and auditing the City of Manchester Stadium, the redevelopment of Headingley Cricket Stadium in Leeds, and the Rosebowl Stadium for Hampshire County Cricket Club.

Following the appointment, Knowles will play a role in ensuring the successful development of Wembley and will work to ensure the facility opens on schedule for 2006.

John Gaffney, the lead director on the project for Knowles, said: "This is a fantastic appointment for Knowles on what is without doubt the most high-profile and exciting construction project in the country."