It will consist of a fully segregated railway, most of which will be underground, running from north of Swords to Charlemont in the south of Dublin City Centre. The route will include 16 stations and serve multiple residential communities such as Swords, Ballymun and Glasnevin, as well as the City Centre, Dublin Airport, and major employment, education, transport and other centres.
Planning submission will be lodged for the project this September, with the MetroLink expected to be in operation in the early 2030s.
Sinn Féin representative Darren O'Rourke TD has welcomed the announcement but raised concerns over the ballooning cost.
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The Meath East TD said: "This project has been on the cards for twenty years at this stage. Communities and commuters have waited far too long for this important rail link into the city.
"We need assurances that this project will now be finally delivered on budget and on time, and ahead of schedule if possible.
"I am concerned about the massive cost escalation for this project already.
"The original National Development Plan 2018-2027 estimated this would cost €3 billion.
"Today the government are saying it could cost up to €12.25 billion; over quadruple that previous estimate.
"Construction inflation is pushing up the cost of projects across the board, but not at a rate of over 300%.
"The National Children's Hospital is a prime example of Fine Gael and Fianna Fáil's inability to deliver a critical project on time and on budget.
"It is essential that the same mistakes are not repeated on this major infrastructure project.
"Quality public transport links, like the MetroLink, are essential if we are to reduce transport emissions and meet our climate targets.
"It's important that we get it right and taxpayers get value for money."
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