The money will be used for, among other things, increased axle-load capacity, longer passing loops, a modern signaling system and two new projects.
The two new projects are a railway yard extension in Kalix and a three-track station in Kaisepakte.
"The ore railway is the basis for thousands of jobs in Norrbotten and for export income that all of Sweden depends on. Anyone who works in the mine, drives the ore train or unloads the cargo in the port deserves a railway that actually meets the standards," says Mattias Karlsson, group leader for the Moderates in the Riksdag, in a press release.
The Malmbanan railway stretches 500 kilometers between Boden and Riksgränsen and on to Narvik in Norway. It is Sweden's busiest railway, according to the Swedish Transport Administration.
