Galliford Try is earmarked to deliver the major ring road scheme and could now start next April.

The council has agreed to shoulder the extra cost of the 7km long relief road which will cut congestion and open the way for major housing development.

The road is expected to accelerate the delivery of over 4,500 dwellings and create 6,000 jobs, new schools and infrastructure.

The Melton Mowbray Distributor Road will be built into two sections, with a southern section following on as a later project from the larger northern and esatern route

At a crucial council scrutiny commission meeting Declan Keegan, head of finance told councillors: “There are no good options.

“If we proceed, it’s going to cost us a lot of money and we’re bearing all the construction risks. If we stop we don’t save a lot of money, but we still need to deal with the housing somehow. And if we pause it simply just makes the situation worse.”

Central Government has committed nearly £50m to the project with the council expected to make up the balance.

A final decision to proceed with construction of the scheme will be taken by the County Council’s Cabinet in December 2022.