THE Ruby Way, between Holsworthy and Hatherleigh, is to benefit from £500,000 from the 'Investing In Devon' fund, generated by the sale of Exeter Airport.
In a letter to county councillor Des Shadrick, Graham Cornish, from Devon County Council's Area North Highway Management, said: "This will be very useful to us in increasing momentum and I hope we can tackle Coles Mill Viaduct from this sum."
Mr Cornish added: "I am planning to construct the 2km from Coles Mill to Anvil Corner and another 2km from Church Road to Pulworthy Moor this summer."
Cllr Shadrick was delighted with the news: "This money offers us a real opportunity to save the Coles Mill Viaduct for future generations.
"For ten years I have used every opportunity in the council chamber to remind my fellow members of the importance of farming and the need to develop rural tourism.
"We of course have had the really good news about Holsworthy's proposed new cattle market, however, it is the extension to the Tarka Trail from Meeth to Holsworthy and Bude, which has been the main focus of my attention.
"The prospect of the longest off road cycleway going through Holsworthy and the business it will bring from one of the fastest growing markets in the UK is huge.
"The Coles Mill Viaduct is of huge importance and I hope the whole town will get behind the county council in their efforts to secure the future of a structure which is part of the history of Holsworthy.
"We now have within our grasp the prospect of walking or cycling from Lambs Lane to Hollacombe over the fully restored Derriton and Coles Mill Viaduct on a summer's evening.
"It was back in 2001 that, after 45 years, people could use the Derriton Viaduct. I believe the Derriton Viaduct has contributed greatly to the quality of life in Holsworthy which everyone can enjoy."