The road project forms part of a wider scheme, which will eventually include a new secondary school and around 500 new homes in the Moreton Hall area of the town.
It will also enable the expansion of Suffolk Business Park and is expected to create up to 15,000 jobs over the next 25 years.
The scheme will consist of building a 2.3 km long single carriageway with short connections to the existing network at the new junctions.
It will generally be a greenfield site and cross existing roads. A 560m length of existing road will require reconstruction along with five new roundabouts and alterations to the slip roads that connect with the A14.
The contract will be tendered as two options. The first will be the whole length of the above while the second will be to construct the western 600m of the road and one roundabout including work to statutory undertakers.
Shortlisted firms will then be invited to tender in early August in the hope the project can be started in November.