The procurement process began in March 2012 following a Ministerial announcement that funding had been secured for the scheme.
Mr Kennedy said: "The award of the contract is a significant step forward allowing construction to begin in just a few weeks on the A2 between Carrickfergus and Whiteabbey, a strategic link in our road network.
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"The improvement that a dual carriageway between Jordanstown and Seapark will bring has attracted strong support from residents and traders in both Carrickfergus and Newtownabbey, and from those who travel the route.
"I congratulate Graham Construction on their successful bid and thank all the construction companies who submitted proposal for consideration."
Construction of the scheme is expected to begin in March and take around two years to complete.
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