Work on the Shoreham Footbridge was due to start this spring but was delayed when Osborne said the build cost would “significantly exceed” the original £5.8m budget.
West Sussex Council and Osborne have now agreed on a revised price of £9.8m to allow construction to get underway in August.
Work will take 45 weeks to complete.
Dr Tommy Chambers, Managing Director of Osborne’s civil engineering team said: “It was important to get all the details in place first, but we’re very pleased to now get on with delivering the project.
“The new footbridge will be a great asset to Shoreham.”
County Council Cabinet Member for Highways and Transport, Pieter Montyn said: “I’m very pleased to announce that the County Council has sent main contractor Osborne a Letter of Intent to formally award the contract for the construction phase.
“This will allow Osborne time to begin its mobilisation process.
“I’d like to thank the local community for being patient while WSCC and Osborne concluded their review of the project.”