The contract to construct the southern connection viaduct section of the 9km Tuen Mun - Chek Lap Kok Link (TM-CLKL) is the largest solo civil engineering contract ever awarded to Gammon.
Balfour Beatty chief executive Andrew McNaughton said: "Balfour Beatty is a diverse business with the capability to design, construct, manage and finance major infrastructure projects all around the world. Complex transport challenges like this sea viaduct are where we have particular expertise and this contract award shows just how valued those skills and experience are.
"It's great news that this project will generate more than 1,500 local jobs. It demonstrates the value that investment in big infrastructure projects can bring to the local economy."
The work includes the design and construction of a 1.6km dual two-lane sea viaduct between the Hong Kong-Zhuhai-Macao-Bridge, Hong Kong boundary crossing facilities and North Lantau as well as the construction of nine smaller approach viaducts.
Work is due to start this month and will be substantially completed by the end 2016 and fully completed by April 2017.