A design of how the markets may look (Credit: Chetwoods)
Smithfields, Billingsgate and New Spitalfields are all one step closer to relocating to the former Barking Power Station site in Chequers Lane.
Combined they will represent one of the biggest wholesale food market destinations in the UK and Europe.
The project is expected to generated £2.9 billion across the UK economy each year and support 11,800 jobs.
Locally, a further £350 million could be produced and up to 3,500 more jobs might be created.
Market tenants will be given modern facilities to help them adapt to current standards.
The River Thames may also be used to transport produce to help reduce the number of market vehicles on the road which will reduce carbon emissions and pollution.
A new food school, with campuses in Dagenham Dock and Barking town centre, is expected to provide the space to train the next generation of butchers, fishmongers and fruiterers.
Improvements are also set to be made to the Goresbrook Interchange and £2 million will be spent to upgrade the A13.
It is hoped the site will be opened in 2027.
Before that can happen, a private bill is required which is due to be submitted to Parliament later this year.
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