Western Victoria MP James Purcell is thrilled his proposal to allocate 10 percent of the income of the Port of Melbourne lease to regional Victoria will see $970 million invested in country areas.
The Andrew's Labour Government has signed a 50 year lease with The Lonsdale Consortium, with the lease of the Port's commercial operations in excess of $9.7 billion.
Mr Purcell, who was on the committee to investigate the viability of leasing the Port of Melbourne, said it was pleasing to see such a good financial result.
"This is a fantastic result as we were really expecting anywhere between $500 and $800 million - so $970 million has surpassed our expectations," Mr Purcell said.
"We fight hard for Western Victoria and this is an example of ensuring regional Victoria attracts well deserved funding as well as its metropolitan counterparts.
"We will now continue to work to ensure Western Victoria benefits from the investment in jobs and growth that comes from this lease."
The $970 million tagged for regional Victoria is available for infrastructure projects and programs that will benefit the agriculture sector, including transport, irrigation and energy projects, as well as skills development programs and market access campaigns.
"We would encourage local businesses and groups that have suitable projects to contact our electorate office and make a time to meet. We want to work with our business community to grow jobs in our region."