The contract is initially for seven years, with the option to extend it for a further seven years.
Balfour Beatty Living Places will work with the Council to maintain the Borough's 626 miles of highways and 743 miles of footpaths, provide drainage cleansing services as well as winter gritting and reactive highways maintenance as required.
The new partnership is expected to bring an estimated saving of approximately £200,000 a year for the Council through an enhanced management of services.
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As part of the contract, Balfour Beatty Living Places will also work closely with the council to help deliver its £20 million capital investment programme of planned highways and transport projects to improve roads, paths and highways structures. This will be delivered over the first two years of the contract.
Approximately 48 full-time employees will be hired during the works, including four apprentices and graduates.
Steve Helliwell, Managing Director of Balfour Beatty Living Places, said: "We are delighted to have been awarded this contract by Telford and Wrekin Council; it builds on our trusted expertise in highways services. We look forward to working closely with the Council and the local community to deliver tangible improvements across the Borough."
Councilor Hilda Rhodes, Cabinet Member for Transport, Roads and Broadband, added: "This is a key contract for the Council at a time when we are investing very heavily in improving roads and footpaths across the Borough through our £45 million Pride in Our Community programme.
"The savings from the contract will have no effect on the major capital investment that we are making between now and April 2021 targeting roads in particular."
Works are due to commence in April 2019.
