PM unveils 'game-changing' upgrade for Great Ocean Road

Victoria's iconic Great Ocean Road is set to be upgraded with tourism initiatives under a federal government cash splash.

Prime Minister Scott Morrison has announced a convention centre and tourism initiatives along the tourist road as part of a $153 million injection for the Geelong and south west region.

Funds includes $10 million for a new ferry terminal at Queenscliff, $30 million for a state-of-the-art Geelong Convention and Exhibition Centre and cash for upgrades at the Twelve Apostles.

Federal Liberal MP for Corangamite, Sarah Henderson, called the funding a "true game changer".

"Very proud of the economic boost, jobs and transformational projects we are delivering," she tweeted.

Mr Morrison told local radio this morning that the money was a big win for tourism and the local regions.

More to come

- With AAP