By summer 2025, Londoners are expected to have a brand new route that will help ease traffic with the opening of the Silvertown Tunnel.

Going under the River Thames and connecting the Greenwich Peninsula with East London's Silvertown district in Newham, the new modern tunnel will help the traffic caused by the Victorian-designed Blackwall tunnel.

Since its announcement, Silvertown has seen mass mixed reactions with some excited about its potential while many are left connected that it will only cause more traffic and higher pollution levels.

But, with the boring of the tunnel now complete and the opening date of 2025 coming closer every day, Silvertown is well and truly here to stay.

With any new transport service, comes questions over its costs, specifically what the budget is and how much it is expected to cost altogether.

How much is it costing to build the Silvertown Tunnel?

The construction of the Silvertown Tunnel is expected to cost £1.2 billion, according to 2020 estimates. 

It's then reported that another £1 billion will be needed over 25 years to pay for the maintenance, operation and financing of the project.

The company behind building the tunnel Riverlinx have paid the upfront costs which will be paid back to Transport for London (TfL) by tolls, according to the Londonist.

You can also find out a more detailed breakdown of the cost via the TfL or London Assembly website. 

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Will Silvertown Tunnel be tolled?

To pay back the tunnel's construction, it's been suggested that not only will Silvertown have tolls but also Blackwall.

The two tolls would allow for the £1.2 billion to be paid quicker over the 25-year contract agreement compared to just one toll that would take a lot longer to pay back.

The costs of the tolls have not yet been shared but will likely be confirmed closer to the time of Silvertown's opening.