The Labor Party will today announce, that if elected at this month's federal election, it will commit $1 billion towards securing acreage for the train route.

Labor's spokesman for transport and regional development Anthony Albanese will make the commitment.

He said it would "end nearly six years of Coalition inaction and finally deliver progress on a project that will revolutionise interstate travel and regional development in Australia".

Under the plan, a High Speed Rail Authority would be established and it would work with state governments to finalise the track route and begin land acquisition.

It would also be expected to commit to an updated business case and work in with those who have industry experience to advance high speed rail.

A feasibility study done in 2013, which examined fast rail from Melbourne to Brisbane, via Canberra, would be a foundation for the authority.

The work, which involved a panel that included former deputy prime minister and member for Farrer Tim Fischer, recommended a corridor to the west of Albury-Wodonga.

It flagged a 4200 car park railway station, serving the Twin Cities, being north of the Hume Freeway-Murray Valley Highway intersection at Barnawartha North not far from the existing train line.

The high speed corridor would traverse a two-kilometre viaduct over the Murray River floodplain.

The 2013 study envisaged high speed rail being operational through Albury-Wodonga in 2065 and predicted fares of $42 to Melbourne for leisure passengers and $70 for business folk.

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It predicted of the passengers boarding at Albury-Wodonga, 69 per cent would travel to Melbourne, 12 per cent to Sydney and 6 per cent to Canberra.

Mr Albanese joined then Labor Party NSW election candidate Ross Jackson at Albury railway station in March 2015 to argue for a high speed rail authority which he was then trying to push via a private member's bill.

"Not just Albury Council, but councils right along the route are very keen on this happening as well because they know that this could literally transform these regional communities and create economic opportunity here," Mr Albanese told ABC Goulburn Murray radio at the time.

The federal Coalition government stated in March it would fund an $8 million business case analysis of a fast rail service from Albury-Wodonga to Melbourne as part of a 20-year plan.