The engineer Alberto de Palacio and the constructor Ferdinad Arnodin first considered the construction of the Vizcaya Bridge in 1888. The main feature of the modernity which inspired their project and which was expressed in the Bridge with avant-garde language and monumental elegance were means economy, naked construction and the practical use of technology at the service of the social needs.
Once approved by the Ministry for Promotion the project became a reality. The concession was ordered on 12th February 1890, less than three months after the constitution of the company M. A. de Palacio y Cía., a construction company and the first concessionary of the construction work.
The construction of the Bridge was financed by a small group of local entrepreneurs led by Santos López de Letona, an industrialist who became wealthy in Mexico in the textile sector. The Bridge came into being as a result of a private initiative so as to attend to the demand of half a million passengers who at the time crossed the river every year on rowing boats. It is still a private company but with over three hundred shuttles per day and an annual average of four million pedestrians and half a million vehicles.