Advance works for the contract are due to start at the end of this month to allow the main works between Junctions 5 and 8 to get underway by June.
Subject to the completion of the statutory process, contract completion is scheduled for 2014-15.
Carillion chief executive, Richard Howson, said: “We are delighted to have been chosen to work with the Highways Agency as its delivery partner for this latest managed motorway contract, which further reinforces Carillion’s position as one of the leading suppliers for the Agency’s managed motorway programme.”
Managed motorways use a range of innovative technology combined with new operating procedures to actively control traffic flow.
This includes variable mandatory speed limits and opening up the hard shoulder to traffic to reduce congestion and improve journey times and safety.
Carillion is one of the Highways Agency’s four delivery partners for the managed motorway national framework and this award strengthens Carillion’s position as a leading provider of managed motorway upgrades.
It follows the successful delivery of two previous phases of the managed motorway programme around Birmingham.