BAM/McCann will upgrade 8km of the existing single carriageway to dual carriageway between Glarryford and the A44 Drones Road Junction.
The £55m price tag includes land acquisition. The value of the main constrcution contract was not disclosed in the statement put out by the Northern Ireland Executive’s department for regional development.
Transport minister Danny Kennedy said: “This is a strategically important route which links Belfast to the north coast of Northern Ireland and its most popular tourist attractions. The existing road carries around 18,000 vehicles per day and with traffic levels continuing to grow, this very significant investment will help improve road safety, reduce congestion and improve journey times.
“I congratulate the BAM/McCann consortium on its successful bid for this scheme. I am confident that the construction contract for this scheme will help to secure jobs in the local construction industry and in turn contribute towards the continued economic development of Northern Ireland.”
Work is expected to start by the end of this year, running for a period of 28 months, with completion expected in early to mid 2017.