The project, for North Yorkshire County Council, is needed to protect a section of the A174 road which is heavily relied on by the community of Sandsend to reach nearby Whitby and is currently threatened by coastal erosion and slope failures.
The scheme will involve building a 780m of concrete-stepped revetment sea defences and supporting infrastructure.
Balfour Beatty teamed up with designers, Royal HaskoningDHV, back in September 2013 to progress the scheme and jointly develop the designs.
Balfour Beatty has been working to ensure the project is carried out sustainably through the break-up, reuse and relocation of existing sea defence material, and will transport all consequent surplus earthworks to a designated fill area on the seaward side of the A174.
Stephen Semple, Balfour Beatty managing director for North Central, said: “Our success in winning this project has been partly down to our ability to deliver innovative solutions, developed through our long history of delivering successful coastal defence work.”