Congestion plan for Coventry's Tollbar island
The government is to fund major improvements to the Tollbar End roundabout in Coventry.
The announcement is part of multi-billion pound plans to invest in England's infrastructure.
Chancellor George Osborne is expected to confirm the announcement in his Autumn Statement on Tuesday.
The A45/46 Tollbar End scheme aims to ease congestion, and improve journey times and the capacity of both the island and the A45 Stonebridge Highway.
About 40 projects have been earmarked for help.
Other schemes include electrifying the north-Transpennine route between Manchester and Leeds, cutting journey times between Liverpool and Newcastle by 45 minutes and additional funding for the Kingskerswell bypass in Devon.
The government said its National Infrastructure Plan would see it and private investors support both social and economic schemes over the coming decade.
The Treasury hopes two-thirds of the £30bn earmarked for infrastructure schemes will come from the National Association of Pension Funds and the Pension Protection Fund.