Client Suffolk County Council originally chose BAM Nuttall to design the scheme but the council decided to rebid the job last summer after failing to agree final costs.
The budget has risen from an initial estimate of £91.73m to £126.75m with the construction contract valued at £76m.
Construction work is now scheduled to begin in the spring of 2021, with the bridge opening in the summer of 2023.
Jonny Kerr, operations director for Farrans’ Civil Engineering Division, said: “We’re delighted to be involved with the Gull Wing project in Lowestoft. It is an iconic structure.
“This contract comes at an important time for the construction sector and we recognise the role that large infrastructure projects like this will play in strengthening the economy in the wake of coronavirus.
“The Gull Wing bridge will offer in excess of 50 employment and training opportunities for the local area through ourselves and our supply chain to leave a lasting legacy within Suffolk.
“We have worked with Suffolk County Council on 24 projects in the last 20 years, including Lowestoft North Fire Station and Lowestoft South Fire Station.
“In addition to the Gull Wing bridge, we are currently working on major projects within the region, such as Great Yarmouth Third Crossing, Norfolk; Hanningfield Washwater Tank Extension, Essex; and working as a delivery partner on the Anglia Water Strategic Pipeline Alliance.”
Councillor Matthew Hicks, leader of Suffolk County Council, said: “Suffolk’s Gull Wing project continues to gather momentum and I’m pleased to welcome Farrans onboard.
“Following an in-depth tender process, this appointment is based on an offer which we believe will bring a balance of high-quality workmanship, value for money and great social value for the local area.”
The project’s full business case has now been submitted to the Department for Transport and once reviewed will enable the government’s £73.39m funding to be accessed.