The Australian state of New South Wales is seeking investments from sovereign wealth funds (SWF), The Wall Street Journal reports. The state is initially planning to tap the $75.1 billion Australian sovereign wealth fund, Future Fund.

The state also seeks to target local pension funds, which will be permitted to acquire direct stakes in projects. The funding will help the state fund public works program that includes updating its roads and railways network. The state has more than $13.2 billion of net debt.

Click here for the story from The Wall Street Journal.