The project design and some enablingworks were carried out during 2006 and early 2007, before the main design and build contract was awarded to Scottish Hydro Contracting in April 2007.
"It was the first element enabling Stephen Moulton to start the rubber works in 1848 and made Bradford the cradle of the rubber industry in the UK, " said Mr Harris.
In recent months, the growth in public-works spending has slowed, while utility tariffs have risen modestly, enabling the government to cut its subsidy bills this year by around 10%.