Victoria would get to keep $1.5 billion of infrastructure cash being demanded back by the Abbott government under a deal brokered by state Opposition Leader Matthew Guy.

Instead of using the money to help pay for the defunct East West Link, the federal funds would be redirected into a new toll road proposed by CityLink operator Transurban under the Maribyrnong River to act as an alternative to the West Gate Bridge.

Victorian opposition leader Matthew Guy. Credit:Enrique Ascui

But in a potential deal breaker, the Commonwealth contribution would be contingent on a dollar-for-dollar $1.5 billion contribution from Victoria, producing $3 billion state-federal funding for the $5.5 billion project.

That would negate the need for a 15- to 20-year extension to the CityLink tolling period demanded by Transurban to offset the cost of building the new road.