£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
New figures show that council tax in Wales remains lower than in England.
Ben Davies says Wales are not bothered by the World Cup suspension tightrope five players will be walking against the Republic of Ireland.
Labour MP Chris Bryant described PC Palmer as 'our shield and defender yesterday.'