Groundbreaking ceremony held for new Ölfusá Bridge in Iceland

A major milestone was achieved today with the groundbreaking ceremony for the new Ölfusá Bridge in Iceland. However, the project still requires the completion of design work and soil surveys before full-scale construction can commence.

The Icelandic parliament recently approved a bill, allowing the finance minister to enter into contracts with contractors for the bridge’s construction. Following the signing of this agreement today, the finance minister performed the ceremonial first groundbreaking, just ten days prior to elections.

Although the design phase of the bridge is still ongoing, the contractor in charge, ÞG Verks, is currently conducting essential soil studies, which will precede the start of physical work at the site.

The new bridge has been in planning for several years; the existing bridge is now 79 years old and has been experiencing significantly higher traffic than it was initially designed to handle. On average, around 15,000 vehicles cross the bridge daily. The new structure is expected to be completed by 2028, with a total budget of 17.9 billion Icelandic krónur, half of which will be financed through tolls. The old bridge will remain operational for those wishing to avoid toll charges.

The finance minister expressed confidence that the revenue from the tolls will cover all expenses, stating that traffic is set to grow, and the detours will be less than projected. The preliminary design of the new Ölfusá Bridge suggests a modern structure built to meet the demands of increasing traffic.