The South Australian opposition wants to build a new multi-purpose sports stadium in the heart of Adelaide.
Opposition Leader Isobel Redmond said if the Liberals win the state election in March her government will press ahead with a major redevelopment of the city's rail yards precinct.
The centrepiece will be a 50,000 seat undercover stadium along with cafes and shops.
Ms Redmond said the development would put Adelaide on the map as a vibrant and modern place to live.
"For too long Adelaide has been regarded as a backwater where nothing ever changes," she said on Thursday.
"This development will once again make this city proud."
Under the Liberal plan an existing interstate train terminal at suburban Keswick would be relocated into the city while the Adelaide casino would also be relocated to free up the Adelaide railway station for use as a hotel or museum.
In a longer-term plan, the opposition also wants to build a new entertainment centre on the rail yards site which the Labor government has earmarked as the location of a new Royal Adelaide Hospital (RAH).
The Liberals have proposed rebuilding the existing RAH on its current site.