There was mixed reaction to the scheme when it was announced earlier this week.
While Peterborough City Council leader John Holdich said it was overdue, chief executive of the Peterborough Chamber of Commerce John Bridge said more work needed to be done on the road.
Cllr Holdich said: “The road is collapsing under the strain as it is. It wasn’t built for the traffic it is taking.
“There have been tragic deaths and many accidents on the road, and something needed to be done to make it safer, as well as improve it for traffic flow. We have wanted something done for 10 years now.
“There will be delays when the work is being done, but without pain, there will be no gain.”
While Mr Bridge said he welcomed the announcement of the scheme, he said more work was needed.
He said: “This is a small step in the right direction, but it does not deal with the challenge of linking Peterborough and Wisbech.
“The A47 is the main route east and west from Peterborough, and it is crucial for traffic to be able to have good access.
“It is vital for businesses to have a good link.
“There are two small schemes here, and four further along in Norfolk taking place on the A47 - we need more work done at our end.”
Highways England confirmed the current stretch of road would remain in place after the new road is built, to be used for local access, and for the use of cyclists, horse riders and pedestrians.