It’s expected an economy ticket would cost about $99, while a business class fare will be about $200.
The ALP’s federal transport minister Anthony Albanese said taxpayers will have to pick up part of the bill.
The High Speed Rail Study nominated the North Melbourne train station as another possibility, for a terminus to this initiative.
The line would most likely follow the Hume Freeway to the border, but divert to a new station at Shepparton. A alternative route, through Gippsland, in eastern Victoria, was canned for cost, population and environmental reasons, according to the Herald Sun.
The government report said there was more potential for property development at North Melbourne. The initiative would need six platforms at least 250 metres long.
A second report on the infrastructure initiative is due later this year.