The money will go towards a £69m project to create a dual carriageway on a two-mile section of the A500 between the Meremoor Moss Roundabout and M6 junction near Crewe.
Cheshire East Council hopes the project will improve the reliability of public transport and unlock employment and housing sites, including 650 homes set to be built as part of the South Cheshire Growth Village.
Once built, the scheme is also expected to help mitigate the additional traffic generated by the High Speed 2 Crewe Hub station both during construction and on completion.
Infrastructure giant Balfour Beatty was appointed as the main contractor for the scheme, which won planning approval last April, and engineering consultant Ramboll is the designer.
When the plans were first lodged in 2017, the council anticipated that the scheme would be constructed within 80 weeks starting in March 2020 and running until October 2021.
However, this estimate has since been revised and work is now due to start next year.
Cllr Craig Browne, Cheshire East Council deputy leader, said: “Dualling this section of the A500 will reduce congestion, increase network resilience and improve safety.
“But, equally importantly, it will facilitate the development of key strategic sites in our local plan and secure future economic growth in and around Crewe.”