A $50 million project to replace an important link on the Highway 101 trade corridor is underway.

Reps. Lois Capps, D-Santa Barbara, and Elton Gallegly, R-Simi Valley, were on hand for the groundbreaking for an eight-lane interchange at the 101 and Rice Avenue.

When completed in 2012, the interchange will complete a series of improvements for moving goods from the Port of Hueneme to the 101 and across the region.

The project has been more than 20 years in the making.

“This is no April Fools joke,” said Oxnard City Council member Dean Maulhardt.

A key component of the funding was $5 million in federal stimulus funding.

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