£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
England enjoyed a winning send-off to their Australia tour as they recovered from early problems leaving Wales floundering.
Veteran singer Sir Tom, 75, is gearing up for his first concerts since wife Linda died after a "fierce" battle with cancer in April.
It will be a dry and fine day across the country with plenty of warm sunshine and light winds.