The Suburban Rail Loop (SRL) will support 24,000 jobs across Victoria and cost up to $34.5 billion, according to the recently released Business and Investment Case.
The Business and Investment Case says the SRL will support 24,000 jobs across the state and connect people to around 550,000 jobs in the precincts around the station.
The SRL is expected to take 600,000 car trips off the roads and cut public transport times by an average of 40 minutes for a one-way trip.
As part of the project, a new 90-kilometre orbital rail line will be built, with strategic land planning and development initiatives planned for SRL Precincts – the 1600 metre zone around stations.
The Business and Investment Case finds SRL East – between Cheltenham and Box Hill -and SRL North – from Box Hill to the Airport – will deliver up to $58.7 billion in economic, social, and environmental benefits to the state, with a positive benefit-cost ratio (BCR) range between 1.1 and 1.7.
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Planning work will continue on SRL West, which will fully integrate with the Government’s record transport investments in the west – including Melbourne Airport Rail.
SRL East is planned for completion in 2035 and is expected to cost between $30 billion to $34.5 billion across 14 years.
Community and stakeholder consultation has been underway since 2019, and people will continue to have opportunities for input, including as part of the formal planning and approvals processes.
Suburban Rail Loop Minister Jacinta Allan said Victorians voted for Suburban Rail Loop.
“It’ll change the way our city travels, ensuring every Victorian has access to housing, education and jobs as our state continues to grow,” Allan said.
“The City Loop, West Gate Bridge, City Link and Western Ring Road are all projects that have shaped Melbourne and where people have been able to live and work. Now it’s time for Suburban Rail Loop to help shape a better future for our growing city and state.”