The new two-platform station is next to the waste incinerator by the Marsh Barton industrial estate.
Devon County Council, the client, provided the initial concept design, which Graham is using in its design and build contract, along with Network Rail and train operating company GWR.
The project also involves the construction of a pedestrian and cycle bridge over the line.
The new station will provide rail services for more than 7,000 people employed at Marsh Barton. There are also development plans for around 2,500 new homes across the estate, which is currently used for light industrial and office space, along with several car showrooms.
Graham’s civil engineering managing director, Leo Martin, said that he and his colleagues were “delighted” to be working on the job. “This latest scheme adds to our impressive portfolio, which also includes several projects we are delivering this year for Crossrail alongside Network Rail,” he said.
A spokesperson for Devon County Council said: “The station is a core element of the Devon Metro rail strategy for Exeter and is central to supporting economic growth to the south west of Exeter and to the Marsh Barton employment area itself, as well as Dawlish and Newton Abbot.”