The 30-year PPP for the new B247 federal road represents a total investment of about €500m (£431m).
Work will carried out by Vinci Construction, with operations and maintenance performed by Vinci Highways, a subsidiary of Vinci Concessions.
DEGES, the public body in charge of developing transport infrastructure in Germany, has awarded the contract for the road, which will link the cities of Mühlhausen and Bad Langensalza in Thuringia.
The €500m investment include about €350m for the construction phase, and covers the design, financing, construction, maintenance and operation of a new 22km-long federal road.
About 15,000 vehicles per day are expected to take the new road, including around 15 % heavy trucks.
Construction will take about four years and will be carried out by Vinci Construction entities Eurovia Deutschland and Vinci Construction Terrassement. The project will recycle and reuse up to 30% of asphalt and 100% of concrete from the existing section.