Eight new inland cities are proposed to be built between the capital cities under the plan.Credit: CLARA
A plan to connect Melbourne, Canberra and Sydney through high-speed rail has been released and its backers say it won't cost taxpayers a cent.
The ambitious proposal calls for the construction of eight new inland cities between the capital cities, in a bid to reduce the pressure of growing population in Melbourne and Sydney.
Land has already been secured in a number of regional hubs.
The long-awaited plan was released on Wednesday by private company Consolidated Land and Rail Australia (CLARA), which has partnered with international companies including GE, Aecom, RMIT and the CSIRO.
It's expected to come with a hefty price tag but CLARA chairman Nick Cleary says the infrastructure can be paid for from the city development rather than government coffers.
He says the business model will be privately funded through the use of land value capture.
"Not only is CLARA seeking to build the world's largest high-speed rail infrastructure to date, the rail network is just part of a wider plan providing a quantum leap forward for the development of inland Australia," Mr Cleary said.
The plan has support from an advisory board of Australian and US businesspeople including former Victorian premier Steve Bracks, former NSW premier Barry O'Farrell and former US secretary of transportation Ray LaHood.
AAP
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