Brisbane is expected to receive a major economic boost by the development of a new underground busway and train (UBAT) tunnel.
Hundreds of jobs are expected to be created by the UBAT project, which was announced by Premier Campbell Newman this month.
The train system is an alternative to the Cross River Rail proposal, and will cost approximately $3 billion less than the previous idea.
The project will comprise a 5.4 kilometre tunnel with two busway lines in the upper section and two train lines on the bottom level.
Mr Newman anticipates the system will reduce congestion at problem spots Merivale train station and the Cultural Centre bus precinct. He believes it will provide the public transport services Brisbane needs for the next 50 years.
He mentions construction of the tunnel will require the use of the largest borer ever in Australia, building a single 15 metre wide tunnel.
Lobby group Rail Back on Track has welcomed the news and described the project as exciting.
A public competition will be held early in 2014 to come up with a name for the new system.
DT: Brisbane will have hundreds of jobs created by the development of an underground busway and train tunnel