The NSW government is openly canvassing the possibility of a new metro rail line through Sydney Olympic Park to help support major expansion of new housing and commercial development in the area.

Planning Minister Rob Stokes and Sports Minister Stuart Ayres released an updated masterplan for the former Olympics precinct on Monday, which includes new proposals for 45-storey towers in the area.

But the masterplan, which is now open to community consultation, does not include firm details about when and where new rail connections through the area will be built.

Fairfax Media revealed last month that government planners were working on a potential metro rail line from the city to Parramatta, with stops likely to be included at Olympic Park and the Bays Precinct around Rozelle.