Under the latest version of the 2016 budget, the Australian Government will provide AUD 5 billion (USD 3.75 billion) for major public transport projects.
“Infrastructure is enormously important to our productivity, to our competitiveness, and to the liveability of our cities and our major centers,” said Paul Fletcher, minister for Major Projects.
The Melbourne Metro and Sydney Metro rail projects will share in half the funding, which will be made available through the Federal Government’s Asset Recycling Initiative. The Sydney Metro rail project, which will build a new rail line (Bankstown – Rouse Hill) via a new link through the Sydney CBD, will receive USD 1.7 billion (USD 1.3 billion) in federal funding. The Federal Government will provide AUD 857 million (USD 641 million) for Melbourne Metro rail project.
Under the budget, New South Wales will receive AUD 2.19 billion (USD 1.6 billion), while Victoria will get AUD 2.4 billion (USD 1.8 billion).
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