The Turnbull government plans to overhaul the country’s ageing infrastructure with a whopping $24 billion additional funding to be announced in the federal budget amid plans to spend $75 billion on infrastructure over the next decade.
The most significant cash injection is the previously flagged $5 billion for a rail link from Melbourne’s airport to the city, putting pressure on the state Labor government to provide matching funds.
The budget will also include $400 million for freight rail to ease traffic congestion around Sydney Airport. The line to Port Botany will be duplicated with a new passing loop added at Cabramatta.
Prime Minister Malcolm Turnbull said the construction will create around 150 jobs and improve local traffic.
“Every single additional train with containers along this rail line takes 50 trucks off the roads,” he said.
“The goal is to increase the rail share of this Port Botany port, this container port from just under 20% to 40% and we’re seeing big growth in the port as well.”
The project will be delivered by the Australian Rail Track Corporation.
Along with the plans for both airports, the government has also committed $50 million for a business case into a rail link from Sydney’s St Mary’s station to the new Western Sydney Airport at Badgerys Creek.
And nearly $1 billion will be spent on building a Pacific Highway bypass at Coffs Harbour on the NSW mid north coast, where traffic currently passes through around 18 sets of traffic lights.
More details will be reveal tomorrow evening when Treasurer Scott Morrison announces the 2018 federal budget.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.