Devon County Council has submitted the full business case to the DfT for a £93m package of improvements to the A361/A39 North Devon Link Road.
The investment includes widening 4.5 miles of the single carriageway road to 2+1 lanes between South Molton and Barnstaple, junction improvements between South Molton and Bideford, and installing average speed cameras.
Devon has identified a preferred contractor, who will be awarded the contract this autumn, subject to final approval from the DfT.
The DfT has earmarked £83m of Large Local Majors grant to the project.
Devon County Council will contribute £6m, with the remainder coming from developer contributions.
Works could be completed in 2023.
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