The firm will carry out the seven-year deal for Coventry City Council, Solihull Metropolitan Borough Council and Warwickshire County Council.
It is understood the three local authorities are working together to achieve greater work efficiency across the region.
Balfour Beatty Living Places workforce will deliver a variety of services to over 5,000km of roads, winter maintenance across 2,000km of roads and maintain over 55,000 street lights.
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In addition, there is an option to extend the contract by a further three years.
Leo Quinn, Balfour Beatty Group Chief Executive said: "This contract award is a real endorsement of the excellent service we have provided across Warwickshire since 2011 and gives us the opportunity to build upon our successes."
Warwickshire Councillor Peter Butlin added: "By approving a highways contract as a three-way partnership, we are able to provide improved value for money to the taxpayer as well as better service resilience and flexibility."
(LM)
