The 1,200m long crossing will take the form of a slender, low, multi-span viaduct with navigation spans to match the existing Kincardine Bridge.
Work is due to start on the crossing next year and will be open to traffic by the end of 2008.
Mr Stephen said: 'This second crossing will improve transport links in Forth Valley and Central Scotland. It will significantly improve the quality of life for the local community in Kincardine, as well as improving travel for road users in Clackmannan, Falkirk and Fife.'
The route will start from Bowtrees roundabout at the end of the M876. It will cross the river as a wide single carriageway, passing through disused coal yards of the old power station site, through adjoining farmland and join the A977 in a double roundabout junction at Gartarry.
Works include a flyover at Bowtrees roundabout and the upgrading of the existing A876 between Bowtrees roundabout and the existing Kincardine bridge to a dual carriageway.
The construction of a new roundabout junction at Higgins Neuk at the south end of the existing bridge is also planned.