The design and construct contract will generate revenue to CPB Contractors of approximately AU$331m (£176m).
The upgrade, which is funded by the Australian and Victorian governments, is designed to increase capacity, reduce congestion and enhance safety for drivers.
CPB Contractors managing director Juan Santamaria said: “We have a strong construction presence in Victoria and will be leveraging our extensive roads and civil construction experience to safely and successfully deliver this important freeway upgrade.” He added that the company has made a commitment to meet and exceed government policies such as ‘Local Jobs First’ and the Social Procurement Framework.
Tasks include the widening and realignment of ramps, the construction of additional lanes, structural works, installation of a ‘smart’ freeway management system, street lighting, traffic barriers, noise walls and landscaping.
Construction is scheduled to start in early 2020 and be completed in early 2023.