The George Massey Tunnel replacement project will cost $8.5 billion, the provincial government says on Monday.
This price tag is more than double what was previously expected the project would cost.
As part of a multi-billion-dollar deal between B.C. and the federal government, including multiple major projects in the province, Ottawa assured that it will contribute $3 billion to the costs of the tunnel project.
During a press conference, Mike Farnworth, Minister of Transportation and Transit, tells reporters that the expected completion of the tunnel is September 2031.
The new timeline pushes the project by about a year; it was originally planned to open by December 2030.
The project is currently named The Fraser River Tunnel Project.
More to come.