The Victorian Government has committed to funding the entire Melbourne Metro Rail project within the 2016-2017 budget, announced on 27 April 2016. The AUD 11 billion (USD 8.5 billion) project involves the construction of 9 km tunnels and 5 underground stations.
According to estimations, the Metro Tunnel will be built and operational by 2026, with 65 new high capacity trains will run through the tunnel. The project is currently in the planning and design phase. The construction is expected to commence in 2017.
“Melbourne is growing, but we can’t run more trains in and out of the city because the City Loop is full. The Metro Tunnel will free up the loop so we can run more services across the network,” Minister for Public Transport Jacinta Allan said.
The budget delivers AUD 2.9 billion (USD 2.2 billion) in capital funding toward the project, and the Government has guaranteed the remaining AUD 6.4 billion (USD 4.9 billion) over future budgets.
In addition to the Melbourne Metro financing, the budget has committed AUD 1.9 billion (USD 1.46 billion) for the new new investment to develop the metropolitan public transport services and AUD 1.3 billion (USD 1 billion) for better regional public transport. Among the financed projects are Mernda Rail project, with a fully funding- AUD 588 million (USD 453 million); AUD 140 million (108 million) to duplicate the single track bottle neck on the Hurstbridge line between Heidelberg and Rosanna; AUD 518 million (USD 400 million) for the construction of the double track of Ballarat – Melton and AUD 875 million (USD 674 million) for 28 extra high capacity metro trains.
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