THE train ride from Sydney to Canberra may finally be cut to under three hours.

The NSW Government has revealed how it will spend the $4.2 billion Snowy Hydro Legacy Fund and it could include a new rail corridor to speed up the train journey.

The legacy fund was created after the Federal Government purchased the state’s share of the Snowy Hydro Scheme so it could expand its capacity as part of the Snowy Hydro 2.0 project.

Deputy Premier and Minister for Regional NSW John Barilaro today announced five

priority areas for the funding.

He said every cent would be spent in regional NSW and listed five priority areas for spending, including water security, eliminating mobile black spots statewide and faster road and rail options.

Improving freight linkages through a possible international freight airport in rural NSW and establishing new economic “activation precincts” were also on the agenda.

Mr Barilaro said the plans could also include identifying a new route for a faster train ride between Canberra and Sydney. Currently the trip takes four-and-a-half hours, which is a lot longer than the three hours (depending on traffic) it takes to drive.

“Reducing travel time from Canberra to Sydney by rail to under three hours is a game-changer,” the NSW Nationals leader said.

The plan should not be confused with high-speed rail proposals for the route, which would slash the journey time to just 48 minutes.

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Mr Barilaro said the Government would have more to say about these projects and other investment priorities in the coming months, all of which will be guided by the NSW Government’s 20-year Economic Vision for Regional NSW.

“The Snowy Hydro Legacy Fund is an investment in our young people in the regions, building the business foundations that will provide a secure future for those who live and work in our regional towns for generations to come,” he said.

THE FIVE PRIORITY AREAS:

Water security in priority catchments: Dams and pipelines are a key priority and work is already under way on water security projects. Minister for Regional Water Niall Blair is already developing regional water strategies across priority valleys.

Investing in digital connectivity: The aim is to make NSW mobile black-spot-free.

Improve passenger road and rail: Making regional travel faster, safer and easier between regional and metropolitan centres.

Freight linkages: Improving regional freight networks to global gateways to increase exports. It is investigating an international airfreight hub that would allow producers to deliver meat, dairy, fruit, nuts and seafood around Australia and the world as quickly as possible.

Establish special activation business precincts: For investors this means access to unencumbered employment lands, streamlined planning approvals, investment in enabling infrastructure, and targeted financial incentives. Work is under way to build an inland port at Parkes as a special activation precinct to leverage the investment in the inland rail.