£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.
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A band of rain pushing in overnight, bringing with it the odd spot of coastal and hill fog, but things should improve by tomorrow.
Local authorities said the move is necessary to "avert the growing number of deaths and increasing harm linked to psychoactive substances".
Sunny and bright spells for most of us this afternoon, feeling pleasantly warm.