£175.5m of the Welsh Government's infrastructure investment will go towards transport and flood defences.
It includes £62m for Phase 1 of a new scheme to create a South East Wales metro system through better bus and rail links.
The metro scheme aims to connect Cardiff, Newport and the Valleys as part of a wider city region.
The Welsh Government says it will commence this year.
£3.5m funding is allocated for 2013-14, with £28.7m for 2014-15, and £29.8m for 2015-16.
More top news
A well known food critic has criticised central Cardiff for not having enough independent restaurants.
Despite his incredible performances, Tommy Cooper was a private man and interviews with him are very rare.
Police noticed Darren Machon's distinctive boxer shorts matched those described by a witness of a burglary earlier that day.