Fashola who spoke in Abuja during an interactive session with newsmen noted that the contract was awarded to Julius Berger Construction Company.
He said that the project, expected to be completed in 36 months would be funded under the Presidential Infrastructure Development Fund (PIDF).
According to him, funding the project under PIDF means that work will no longer stop on account of lack of funding.
He said that the Lagos-Ibadan expressway and Abuja-Kaduna-Zaria-Kano road projects would also be funded under PIDF.
Fashola said that the contract for the main work on the Second Niger Bridge was awarded after the completion of the four phases of the project.
He said that the early works were preliminary projects to be completed before the main work, adding that all the early works were done in the river and not visible from the existing bridge.