The federal government will spend almost $80 million this year on a high-speed rail business case which will identify a proposed route and station locations between Newcastle and Sydney.
Infrastructure and Transport Minister Catherine King, whose government has faced pressure from the Opposition and Greens to get the massive project moving faster, announced on Tuesday that the High Speed Rail Authority would receive $78.8 million for an "initial" business case.
The money will come from the government's 2022 commitment to spend $500 million on planning high-speed rail between the two cities as the first stage of a proposed east coast network.
Ms King reiterated on Tuesday that the government would bring forward the business case from 2026 to the end of 2024.
The document will include the estimated cost of the project, a timeframe for construction and the type of trains to be used.
Ms King told the Newcastle Herald two weeks ago that the government was committed to building the line regardless of the cost.
"The government is committed to building it," she said at the time.
"We obviously want to get the best value we possibly can.
"It's going to take private sector investment as well, and we're looking at those financing mechanisms as part of the business case.
"There's a big piece of work to be done about the financing, but I am very confident that we will start to see significant work on this project under way once we have seen the business case."
High-speed rail consultant Russel Lunney wrote in the Herald in 2022 that bullet trains should be designed to both connect to and bypass the existing rail line in Newcastle and the Central Coast.
Mr Lunney proposed a long, continuous tunnel and a new bridge over the Hawkesbury River to traverse the difficult terrain south of Gosford.
A new dedicated high-speed rail line has the potential to cut travel times between Newcastle and Sydney from more than two-and-a-half hours to between 45 and 60 minutes.
Mr Lunney suggested bullet trains could leave Newcastle every 20 minutes, stopping at Glendale and Tuggerah before continuing to Sydney.
High-speed trains could leave a new Tarro station every 20 minutes, and other services could run from Newcastle to Sydney via Broadmeadow, Glendale, Wyong, Tuggerah, Ourimbah, Gosford and Woy Woy.
Newcastle MP Sharon Claydon said the business case funding was "exciting news for Novocastrians keen to see progress being made on this very significant infrastructure project".
"High-speed rail is a massive game-changer for Newcastle and our region," she said.
"In addition to connecting cities and people, this project will be a major catalyst for growth in our region, providing ample opportunities and good local jobs."
