The joint venture will commence works this winter on a new 9.8km bypass connecting Caernarfon and Bontnewydd, creating employment opportunities for over 200 staff at construction peak.
Thomas Edgcumbe, Managing Director for Balfour Beatty's Regional North and Midlands business, said: "Today marks a significant milestone in the delivery of a scheme which on completion will provide significant benefits to the economic landscape in Wales.
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"Having worked with Jones Bros and the Welsh Government on a number of ongoing and historic projects, we are confident that we will successfully deliver this highly anticipated scheme to schedule and leave behind a lasting, positive legacy for the local community."
Hefin Lloyd-Davies, contracts director at Jones Bros Civil Engineering UK, added: "The progression of the contract is pleasing and we're looking forward to providing benefits to the region including jobs, training, and skills.
"We have a proud history of not only delivering high profile projects in a joint venture with Balfour Beatty, but caring about the communities in which we operate."
Balfour Beatty Jones Bros has worked closely with the Welsh government to develop the scheme following the award of an Early Contractor Involvement contract in 2015.
The new bypass is expected to be completed in spring 2021.
(CM/MH)
