As part of the Roads and Rural Investment Plan 2008-2016, the cash injection should see more than 80% of the roads network improved over the next eight years.
The funding for long-term improvements will be spent alongside the existing roads maintenance budget, which this year was £10.45m.
This additional investment will be split across the council's four geographical areas: Clydesdale - 35% (£44.10m); East Kilbride - 26% (£32.76m); Hamilton - 26% (£32.76m); Rutherglen and Cambuslang 13% (£16.38m).
It is also proposed to increase the money spent on footways and footpaths as part of the total package of investment.
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The development of the rural area, specifically to the roads network, will help access to jobs and services, the tourism and agricultural economy and attracting new businesses.
Initially, it is proposed that a pilot project for small business accommodation is located in the Carluke area to serve wider business needs. The premises will be targeted at small start-up and established rural businesses. If successful, it is hoped to roll-out similar developments in Biggar and Lanark.
The new money will come from the phased disposal of commercial property assets in Hamilton, East Kilbride and Rutherglen and additional council borrowing. The council has used a similar borrowing model to fund the £850m Primary Schools Modernisation Programme which is already well underway.
Leader of South Lanarkshire Council, Councillor Eddie McAvoy, said: "This is a tremendous investment which will see £126m spent on upgrading the roads system across South Lanarkshire within the next eight years.
"I have no doubt these far-reaching proposals will transform the roads network.”
(GK)
