The 11 projects, to be built under the Public Private Partnership programme (PPP), are designed to help drive regional development and meet skills needs in their areas.
They will provide more than 8,000 new student places.
Junior Education Minister Mary Mitchell O'Connor acknowledged that institutes of technology had been "disproportionately affected by the fall-off in capital investment in higher education over the past decade".
She said the infrastructure had not evolved or improved quickly enough to match the dynamism of the sector and "we're starting the process of changing that today".
Ms Mitchell O'Connor noted that many of the institutes were working towards the attainment of technological university status and the new infrastructure would support them in that aim.
