The new road will connect Preston and southern Fylde with the M55. There will be junctions for new link roads to Fulwood and a new railway station and housing developments at Cottam.
A 4km-long dual carriageway, known as the Preston Western Distributor (PWD), will support planned housing in northwest Preston, improve access to the new enterprise zone in Warton, and provide an option to avoid peak hour congestion in the city centre.
The same contract also includes a 3.2km single carriageway road, called the Northwest Preston east-west link road.
Work is scheduled to start on the east-west link road in 2016 and on the PWD in 2018.
Interested bidders must register their interest by 22nd September 2015.