The Department for Transport has given the green light to the A45 South Bridge near Solihull, with provision of £8M of funding towards the £12M cost.
The bridge over the West Coast Main Line is on a key route between Birmingham and Coventry, close to Birmingham International Airport, the National Exhibition Centre, and the planned HS2 Birmingham Interchange station.
Construction works are scheduled to commence in January 2015 and the structure is due for completion in August 2016. The road will remain open while construction is in progress.
The bridge will replace the existing 150 year-old link carrying the westbound carriageway of the A45 over the railway.
Transport minister Baroness Kramer said: “This new bridge will reduce congestion and improve safety, and include new pedestrian and cyclist facilities.”