The North Carolina Turnpike Authority in the US has awarded a $368m contract to an unnamed consortium to build the 20 mile Monroe Connector-Bypass.

The bypass road will be constructed east of Charlotte county and stretch from US 74 at Interstate 485 in Mecklenburg county to US Highway 74 near Marshville in Union county.

The $725m project cost includes $200m for right-of-way and is set to relieve congestion on Independence Boulevard, providing a shorter route for beach goers.

The North Carolina Turnpike Authority has sold bonds to fund the construction.

The project is expected to be complete by 2015.