Vaðlaheiðargöng

The estimated cost of the tunnel was ISK 11.5 billion (2013 prices, about US$96 million) but by April 2017, it was reported that the costs had surpassed the estimates by 44%.[5][6] The Icelandic government loaned 4.7 billion ISK to the construction of the project in April 2017.[5][6]

The tunnel was planned to open at the end of 2016.[7] However, a large leak was found in early 2015 and large supports needed to be put in place. Adding to the problems, a large volume of hot water was also found and needed to be pumped out of the tunnel. The tunnel was, as of April 2017, scheduled to open in the fall of 2018.[8] As of April 2017, the tunnel had been drilled, but finishing up and building the road remained.[9]

The tunnel opened in December 2018.[10] In April 2019, the toll for using the road was 1,500 ISK for regular cars if payment was paid three hours in advance of usage, but the toll is 2,500 ISK for immediate usage.[11]

In July 2019, it was reported that the toll tunnel had earned 35-40% less than estimated. This was because fewer cars went through the tunnel than expected and because more drivers paid in advance than was expected.[12]

The construction of the tunnel and the Icelandic government's role in it has been harshly criticized. Opponents of the project have said that the project will not be profitable within a reasonable span of time (or at all), that construction costs would exceed original estimates and that the motivation behind the construction is to benefit the voting demographic in a marginal constituency.[13][14][15]