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Sixteen million pounds is the value of the contract signed today by construction company Birse Civils Ltd to build the much needed direct road link between junction 10A of the M1 motorway and London Luton Airport.
Luton is expected to see the new road known as the East Luton Corridor completed by the early part of 2008. Work is planned to start on Monday June 19 following today's handover of the construction contract by Baroness Andrews, planning minister in the newly formed Department for Communities and Local Government.
Steve Withers, regional managing director of Birse said: "The East Luton corridor project is an exciting opportunity and a substantial development to the company's business in this part of the region.
"We very much look forward to starting work on June 19 and working with Luton Council, assisting them in delivering the scheme which goes a long way to fulfilling their transport and regeneration aims for the future."
Although the Befordshire town has been involved in many major projects in recent years, this said to be by far the biggest. It is part of a massive investment programme set to transform the area over the next five years.
Andy Strange, an executive member of Luton Council, with special responsibility for transport stated: "We are delighted to announce the letting of this contract to Birse, which was awarded against stiff competition following a stringent tendering process.
"The East Luton Corridor will ease local traffic congestion and aid the regeneration of the town."
Other projects in a £4bn regeneration by 2012 include the Butterfield Business and Technology Park, plus major developments at the former Vauxhall car plant and in the town centre.
They also include the Translink rapid transport system, the proposed expansion of the airport and the widening of the M1.