The New South Wales (NSW) government in Australia has announced that A$12bn ($8.86bn) in funding will be made available for Sydney metro rail projects over the next four years.

Of the proposed funding, A$6.2bn ($4.58bn) has been designated for Sydney Metro City and Southwest, with the remainding A$5.8bn ($4.28bn) for Sydney Metro Northwest.

NSW’s Premier Mike Baird said: "When this government says it will build something we get on and build it. Today’s announcement means we have billions of dollars set aside to deliver this transformational project for NSW."

Phase I of Sydney Metro will be built at a cost of around A$8.3bn ($6.13bn), while Phase II will require between A$11.5bn ($8.49bn) and A$12.5bn ($9.23bn).

"Phase I of Sydney Metro will be built at a cost of around A$8.3bn ($6.13bn)."

The new funding will be used towards laying tracks and building eight new metro stations for Sydney Metro Northwest. It will also see the procurement of new fully-automated metro trains and ongoing construction of the 4km skytrain.

The funding for Sydney Metro City and Southwest covers the tender process for twin tunnels from Chatswood to Sydenham, as well as early construction work in 2017, including building demolitions, planning, and design work.

NSW’s treasurer Gladys Berejiklian said: "The Budget will continue the Government’s record commitments to public transport with not only A$1.3bn ($960m) in 2016-17 to continue work on the Metro Northwest, but also A$1.4bn ($1bn) in 2016-17 to continue the Metro under the Harbour, through the CBD, and on to Bankstown."