Starting with the 2019-2020 budget, the Australian Government announced that it will invest AUD 100 billion (USD 71.1 billion) to roll its infrastructure plan. This includes an additional AUD 23 billion (USD 16.3 billion) of new funding in the 2019–20 Budget for projects and initiatives.
The Government will again provide significant investment in rail infrastructure. Under the budget, AUD 6.3 billion (USD 4.48 billion) will be invested in railway infrastructure projects. “Through our investment in fast rail, we are targeting key corridors to allow people to live in regional centres while enjoying the benefits of our capital cities,” the Government says.
The projects include a fast rail between Melbourne and Geelong, the first stage of Western Sydney North South rail link, the upgrade of South Geelong – Warun Ponds and under this budget, a National Fast Rail Agency establishment will be funded.
The budget also includes financing for strategic business cases to identify and prioritise upgrades of regional rail networks that connect economic centres with the Australian Rail Track Corporation’s network as well as the elaboration of five fast rail business cases on corridors between Sydney and Wollongong, Sydney and Parkes (via Bathurst and Orange), Melbourne and Albury-Wodonga, Melbourne and Traralgon, and Brisbane and the Gold Coast.