The opening of the Abercrombie River Bridge, north of Taralga, will boost freight movement and tourism between Oberon and Goulburn.
Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said the two-lane bridge was a significant improvement to the Goulburn-Oberon Road and the broader local road network.
"The old single-lane timber bridge from the 1950s was deteriorating, having experienced floods and increased heavy vehicle usage during its many decades of service," Mr McCormack.
"In contrast, the new 40-metre-long structure is suitable for heavy vehicles, including B-doubles.
"This is a great local example of how the Australian Government's investment in infrastructure is supporting jobs and communities at a time when it is needed most."
New South Wales Minister for Regional Transport and Roads Paul Toole said the bridge replacement upgrades include the construction of two 450-metre, two-lane road approaches and will ensure access to B-Double logging trucks, general freight trucks, and livestock transport vehicles.
"This project will significantly improve heavy vehicle access and freight productivity in the region, servicing the needs of road users now and for generations to come," Mr Toole said.
"The NSW Government is committed to reducing pinch points and creating new freight links to help keep the industry moving."
Federal Member for Hume Angus Taylor said the new bridge was part of a record investment in infrastructure by the Australian Government, in partnership with state and local governments.
"Better bridges improve safety and access for communities and keep businesses and the road freight sector powering on," Mr Taylor said.
"The completion of the bridge is a fantastic outcome for local residents and businesses that regularly travel this section of road."
Member for Goulburn Wendy Tuckerman said the NSW Government was delighted to fund the project.
"The Abercrombie River Bridge is the most direct link between Oberon and Goulburn and the upgrades will reduce the need for detours of up to 100 kilometres, supporting locals and the freight industry alike," said Mrs Tuckerman.
"It's wonderful to see this vital piece of local infrastructure completed, opening up the region to economic and tourism opportunities."
Upper Lachlan Shire Council Mayor John Stafford said the new concrete bridge and associated road approaches provided safer access for the local community, farmers and visitors to the shire.
"On behalf of Upper Lachlan Shire Council I would like to thank the Australian and NSW governments for their funding contributions, which have made this project possible," Cr Stafford said.
"I would also like to thank Oberon Council for working with us to bring this project to fruition."
