It is the first major construction project to be let following the signing of a road agreement between the Canary Islands and the Spanish government at the end of 2018.
The contract involves building a second phase of the Aldea highway - an 8.5km-long route between El Risco and Agaete – and carrying out improvements to a 0.5km stretch of the existing highway.
The project entails construction of a total of eight tunnels – including one of 400m and one of 600m - and two viaducts, the longer of which will be 520m long.
The consortium will 65 months to carry out construction.
The improvements are intended to address dangers on the current route, reduce journey times and give an economic boost to the municipality of La Aldea and northern Gran Canaria.