A leading member of the Australian government believes the nation must take its cue from China by investing in a high-speed train network along its eastern coastline.
Andrew Robb, who resigned as Trade Minister earlier this month, said Australia must act now and build a railway line to link the Australian cities of Melbourne, Canberra and Sydney.
Robb, who oversaw all three of Australia's Free Trade Agreements (FTAs) with China, South Korea and Japan, as well as Australia's role in the Trans Pacific Partnership, said he had realized Australia needed the upgrade following overseas trips to countries such as China.
"There are 200,000 kilometers of very fast train in China -- there's not many developed countries in the world that haven't got the advantage of this and we have to do it," Robb said at a freight symposium, in comments published by Fairfax Media on Monday.
"It's even more important with the distances (in Australia)."
Melbourne is located around 870 kilometers south of Sydney, and the mooted initiative would be one of the most expensive transport projects in Australian history.
According to Robb, who will retire from politics at the next election to pursue a career in the corporate sector, he had been routinely approached by three companies desperate to privately finance and build the "whole" line.
"The very fast train would enormously complement what you've got in mind on the aviation front and you've made provision for the arrival point," he said.
"The thing is, we should do it now whilst the world is awash with cheap money."
"It's awash with nervous investors but they're keen to put their money into long-term sustainable projects in safe havens and Australia is seen as a safe haven."
In 2013, Prime Minster Tony Abbott abolished the High Speed Rail Advisory Group, set up to investigate the possibility of implementing a bullet train or similar very fast train (VFT) network in Australia.
However, Abbott's successor Malcolm Turnbull, is reportedly working with every state government across the Australian mainland's eastern coast to protect the previously identified rail corridors, leaving the door open for the idea.
The cost of the project was originally estimated to be in the region of 81 billion U.S. dollars three years ago.
