Victorian Government has secured AUD 1.5 billion (USD 1.13 billion) from the Commonwealth that confirmed the financing under Victoria’s Asset Recycling Initiative for the Regional Rail Revival.
“This is a once in a generation investment that will deliver improvements for every regional passenger line in Victoria. It will upgrade track, stations and signalling across the state, to run more trains and get people home sooner, wherever they live,” Minister for Public Transport Jacinta Allan said.
The package includes the AUD 516.6 million (USD 391.5 million) Ballarat Line Upgrade already underway, with an extra AUD 39 million (USD 29.5 million) for Stage 2 of the project which will deliver better services for Ararat and Maryborough.
More than half-a-billion dollars will be invested on the Gippsland line, creating 400 local jobs with AUD 435 million (USD 329.64 million) for major upgrades between Pakenham and Traralgon, and AUD 95 million (USD 72 million) to replace the Avon River Bridge. These upgrades will enable more frequent, reliable services between Melbourne and Traralgon, and improve services to Bairnsdale.
USD 83.35 million will fund the first stage of a massive new Surf Coast Rail Project, which will prepare the corridor for duplication between South Geelong and Waurn Ponds, while work is undertaken to complete the business case for the duplication. The funding will also reserve land for a future line to Torquay.
Further west, USD 86.4 million will be pumped into the Warrnambool line to upgrade track and signalling to enable more services and new VLocity trains to run to all the way to Warrnambool.
USD 106 million will be provided for track, signalling and station improvements on the North East Line, paving the way for better services and a next generation of train for services to Albury.
Passengers in Bendigo and Echuca will also benefit, with USD 69 million in upgrades to run faster trains, an extra daily service to Echuca, and delivery of Bendigo Metro Stage 2 with more services to Epsom and Eaglehawk.
The financing includes AUD 7.6 million to plan for an improved freight network in and around Shepparton and ensure it is not negatively affected by future increases to passenger services on the line.
The package also includes just over USD 15 million for the USD 333.4 million Murray Basin Rail Project.
The funding was owed to Victoria under the Asset Recycling Initiative, following the long term lease of the Port of Melbourne.
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