Brisbane's Cross River Rail project has received its first Federal Government funding, with $10 million to go towards finalising the State Government's plan for the multi-billion-dollar underground rail link.

Prime Minister Malcolm Turnbull announced the contribution today as Federal Cabinet meets in Brisbane, a roundtable meeting will also be held with Lord Mayor Graham Quirk.

Mr Turnbull said the funding will go towards analysing all options relating to the long-promised project and how it might link with the Council's plan for a Brisbane Metro Subway System.

While no decision on additional funding has been made, the business case for the $5.4 billion project is being analysed by Infrastructure Australia and the Infrastructure Department.

"For many years federal and state and local governments have tended to pass like ships in the night and they haven't worked together," Mr Turnbull said.

"And we're changing that.

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"Brisbane is clearly is going to need a cross-river rail solution.

"What we need to do is ensure that we get the investment put in place.

"We have not made a decision on what additional funding will be provided."

The $10 million federal contribution comes on top of $50 million allocated by the Palaszczuk Government in the last state budget to establish the Cross River Rail Delivery Authority (CRRDA) and start early works.

Deputy Premier Jackie Trad said Mr Turnbull had recognised the project's potential and has taken "the politics out" of his decision making.

She said the Commonwealth would also have a representative on CRRDA.

"By having a seat at the table, [it] means that they want to participate," Ms Trad said.

"That means we can nut out details that will go to the very question of long-term financing and funding for that project.

"The Nicholls opposition are now isolated with no vision or plans for the future."

The $5.4 billion project will see a 10.2 kilometre link from Dutton Park to Bowen Hills, with 5.9 kilometres of tunnel under the Brisbane River and CBD.

The Cross River Rail will connect to both northern and southern rail networks.

The Government said it would ease traffic congestion and improve the network's reliability.

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