Melbourne's new Metro Rail project

MELBOURNE'S METRO

WHAT IS IT?

* A $10.9 billion project to put new twin tunnels under Melbourne's CBD and build five new stations

WHAT WILL IT DO?

* Increase capacity on the network during peak times by 39,000 passengers and allow for many more trains to be run through the city

WHERE'S THE MONEY COMING FROM?

* $4.5 billion from the state government - basically the $1.5 billion of federal cash for the dumped East West Link, and $3 billion already borrowed for the same project

* $4.5 billion from the federal government, if it agrees to it

* $1.9 billion from the private sector, most likely in commercial developments and operating the new rail lines

WHERE ARE THE STATIONS?

* Two under the CBD, one at the Domain on St Kilda Rd, one in North Melbourne, and one in the Parkville university and hospital precinct

WHEN IS THIS HAPPENING?

* Major construction due to start by 2018, finished by 2026

Source: Victorian government