New Champlain Bridge now expected to open December 21

The federal government and the consortium building the new Champlain Bridge announced Friday they have reached a settlement paving the way for the new span to open in December.

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Officials said the opening date for Montreal’s new bridge over the Saint Lawrence River is now Dec. 21 instead of Dec. 1.

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It will replace the federally owned structure right next to it — a six-kilometre span linking Montreal with its south shore that opened in 1962.

WATCH BELOW: When will the new Champlain Bridge open?

2:17 When will the new Champlain Bridge open?

Considered one of Canada’s busiest bridges with roughly 50 million crossings yearly, it has been deteriorating for years.

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The project for the new bridge has been challenging due to load restrictions on the old bridge that delayed the transportation of oversized, prefabricated pieces destined for the new span.

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Signature on the Saint Lawrence, a consortium led by engineering and construction firm SNC-Lavalin, and Ottawa announced the agreement Friday.

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It resolves issues such as cost overruns and puts an end to legal action filed by the consortium in Quebec Superior Court in March 2017.

WATCH BELOW: Champlain Bridge slated to open in 2018

2:35 Champlain Bridge slated to open in 2018

As part of the deal, the price tag for the $4.2-billion project will increase by $235 million to cover construction delays and transportation costs of oversized parts.

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“There was a price for inaction too,” said Liberal MP Marc Miller, the parliamentary secretary for infrastructure.

“It was difficult to put a figure on this inaction, but we could have surpassed $300 million if we looked at a delay of eight months until the end of summer 2019.”

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The federal government had commissioned a study into how much it would cost to keep the existing 56-year-old bridge open to traffic beyond 2018.

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Upon completion of the project, the consortium will maintain and operate the new bridge for 30 years.