It was built to alleviate the congestion on Lisbon's 25 de Abril Bridge, and eliminate the need for traffic between the country's northern and southern regions to pass through the capital city.

[9] Construction began in February 1995; the bridge was opened to traffic on 29 March 1998, just in time for Expo 98, the World's Fair that celebrated the 500th anniversary of the discovery by Vasco da Gama of the sea route from Europe to India.

The financing is via a build-operate-transfer system by Lusoponte, a private consortium that receives the first 40 years of tolls for both Lisbon bridges.

The bridge has a life expectancy of 120 years, having been designed to withstand wind speeds of 250 km/h (155 mph) and hold up to an earthquake 4.5 times greater than the standards of building resistance in Lisbon.

Environmental pressure throughout the project resulted in the left-bank viaducts being extended inland to preserve the marshes underneath, as well as the lamp posts throughout the bridge being tilted inwards so as not to cast light on the river below.