The Governor of Washington, Chris Gregoire, has approved a bill for the construction and funding of a new SR 520 floating bridge replacement valued at $1.85bn.

The bill authorises tolling on SR 520 which will begin in late 2010 to lower the overall cost of the project.

The construction of statewide significant bridge will begin with the development of a pontoon casting basin in Grays Harbor in next year and these pontoons are towed to Lake Washington.

The new bridge will have four general purpose lanes and two new high-occupancy vehicle lanes.

The construction of the floating bridge will begin in 2012 and scheduled to complete by 2014. It is aimed to relieve congestion and to boost the economy.

Governor Gregoire said: “The new bridge will get travelers safely to their jobs at the University of Washington, the global health center in Seattle’s South Lake Union, and the technology hub on the east side of the lake.”