Its Next Generation Supplier Arrangements are being set up to improve the efficiency and effectiveness of capital project delivery and asset management.
The new framework will develop an incentivisation mechanism, based on newly released NEC4 forms of contract, to encourage an integrated approach to delivering the capital programme outcomes.
Work will be split into two lots on the MCF, one covering major project work valued from £5m-£50m and the other smaller jobs worth less than £5m.
The lot for larger projects will account for a £185m pipeline of work over the four years, with the Environment Agency looking to appoint around five firms.
It aims to appoint around eight firms for the smaller project lot worth £35m over the four-year term, running from April 2019 to March 2023.
Firms can register expressions of interest on the portal.