A new counterflow lane on the Alex Fraser Bridge will save commuters up to 16 minutes during the afternoon rush hour, the B.C. government said Thursday as it announced the new $70-million project.

A seventh lane will be added to the bridge by narrowing the existing lanes and removing the shoulders.

A movable barrier will be repositioned to accommodate traffic flow: four lanes of traffic will be allowed northbound for the morning rush hour, and four lanes southbound for the afternoon rush hour.

The project, which will create an estimated 130 jobs, is slated to be completed in spring 2018.

Transportation Minister Todd Stone said the project will help cut congestion on the bridge.

"Commuters and other highway users can expect to save about 12 to 16 minutes during the afternoon rush hour and about six minutes during the morning rush hour," he said in a statement.

In addition to the additional lane, the $70-million will also pay for 13 electronic signs to be erected at "key decision points" on Lower Mainland highways.  

The provincial and federal government are splitting the bill for the infrastructure improvements.