One of Australia's premier pieces of scientific infrastructure, the Australian Synchrotron in Melbourne's south-east, is set to be given a lifeline under a new funding deal to be announced within weeks by the federal and Victorian governments.
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The synchrotron - a football field-sized building containing a 216-metre accelerator that propels electrons close to the speed of light - was recently used by researchers to reveal important new details about a drug being developed to combat Alzheimer's disease.
Located next to Monash University in Clayton, the building has been described by the Department of Industry as "one of the most significant pieces of scientific infrastructure in the southern hemisphere". But it has had a troubled history and almost closed in 2012 because of a lack of funding. The federal and state governments eventually funded a rescue package which is due to expire next year.
Fairfax Media understands that a new deal to keep the building open will be announced within weeks, possibly before the May budget.
Victorian Labor went to last year's election promising to ensure the synchrotron's long-term viability so it can attract investment in additional beam-lines and unlock its economic and scientific potential.
Continued funding for the centre would be warmly welcomed by the scientific community, which has had an at times difficult relationship with the Abbott government. Scientists were outraged earlier this year when the government threatened to axe funding for the National Collaborative Infrastructure Strategy - which employs 1700 researchers - unless the Senate passed university fee deregulation.
The CSIRO's budget was cut by $114 million in last year's federal budget and hundreds of jobs were cut.
A spokeswoman for Industry and Science Minister Ian Macfarlane said: "The synchrotron is a significant piece of national scientific infrastructure, able to be used for critical, cutting-edge research delivering outcomes for a range of areas including health, manufacturing, food security, minerals and energy.
"The Australian government is focused on enhancing the role of science across our community and in our economy, by creating stronger connections between science, research and industry.
"The synchrotron is an important asset in achieving this objective, and the government is working with all stakeholders to ensure it is appropriately supported."
The synchrotron has also been used to develop improved solar panels and led to new discoveries on DNA.
Staff at the synchrotron hope that the latest funding deal will be more generous than the $100 million rescue package announced four years ago.
The synchrotron's director, Andrew Peele, last year described that as a "bare bones" amount that has not been enough to meet demand from researchers.
