New Jersey has awarded a construction contract that will replace a century-old rail bridge that has been a source of delays for years.

New Jersey Transit announced on Tuesday that it awarded a $1.5 billion construction contract, the largest in its history. The Portal North Bridge will be a joint venture between a Swedish and an Indiana-based company.

Construction is expected to take about five years.

The project is a major milestone in the push to replace the 111-year-old swing bridge, which occasionally becomes stuck.

The bridge project is part of a broader effort that includes a new, $10 billion rail tunnel under the Hudson River.