Sydney's Barangaroo 'to get new $500m train station'

The NSW state government is reportedly due to announce the building of a new train station at Barangaroo in inner Sydney at a cost of around half a billion dollars.

Treasurer Gladys Berejiklian will announce the project, to be part of the planned "metro" line through central Sydney, in Tuesday's budget, Fairfax Media reported.

A station at Barangaroo had previously been listed only as a possibility in earlier plans for the line, which will link Chatswood in the city's north to Sydenham in the inner south.

The NSW government wants to use money raised from the privatisation of electricity assets to build the line.