The new proposed crossing will be a link from the A12 via Waveney Drive on the south side of Lake Lothing, to Denmark Road and Peto Way on the north side.
Known as the Lake Lothing Third Crossing it will involve building three distinct parts: a lifting bridge, a new rail bridge on the north side of the waterway to cross the existing East Suffolk Line and a new road underpass on the south side.
The opening bridge will enable tall vessels to pass through and will be taller than the existing bascule bridge. This design should allow a large number of boats to pass underneath without the need to lift.
Suffolk council intends to run a two-stage bid competition and shortlist 5-8 bidders before taking the list to three for the invitation to tender.
A preferred bidder is expected to be selected by July next year.