Queensland’s Government has designated a sum of A$800m ($593m) to finance the construction of Cross River Rail project in Brisbane.

The move follows Building Queensland’s declaration in its Infrastructure Priority Pipeline Report that the 10.2km rail link is ready for state investment.

The funding forms a part of the government’s A$40bn ($29.6bn) four-year infrastructure programme announced in the 2016-17 state budget.

According to a statement posted on the government’s website, the amount being awarded is the biggest funding commitment to Cross River Rail by any government to date.

"The funding forms a part of the government’s A$40bn ($29.6bn) four-year infrastructure programme announced in the 2016-17 state budget."

Premier of Queensland Annastacia Palaszczuk said: "This builds on our recent commitment of A$50m ($37m) in the 2016-17 state budget to establish the Cross River Rail Delivery Authority and commence early work."

During the five-year construction phase, the A$5.4bn ($4bn) project is expected to create more than 1,540 jobs every year. Upon becoming operational, the project will create close to 570 jobs every year.

The initial funding for the project will come from the State Infrastructure Fund, which was allocated A$2bn ($1.48bn) in the budget.

The rail line connecting Dutton Park and Bowen Hills will have five stations including Boggo Road, Woolloongabba, Albert Street, Roma Street, and Exhibition showgrounds.

The state’s independent infrastructure adviser Building Queensland anticipates that the Cross River Rail will boost public transport use across the region by 29,000 trips per day in 2036.