A scheme to transform Liverpool's Kings Dock into a 9,500-seater waterfront arena has got the final go-ahead.
The £142m construction of the new Kings Waterfront arena and convention centre will start next month, Liverpool City Council said on Tuesday.
It will also include a multi-storey car park and a hotel development.
Liverpool City Council leader Mike Storey said the project would be the centrepiece of the city's Capital of Culture year in 2008.
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"This is great news for Liverpool," he said.
"It's been a long and complicated journey, but I'm delighted that our dream for a world-class arena on the waterfront is now becoming a reality.
We are on course to deliver a truly world-class facility
Sir David Henshaw, Liverpool City Council
"The building blocks are all in place and I'm looking forward to work starting on a facility that the region has needed for a long time."
Chief Executive, Sir David Henshaw, said: "We have put together a sound financial package which protects the interests of council taxpayers.
"We are on course to deliver a truly world-class facility, which will make Kings Waterfront one of the great international destinations for business and leisure."
The project is being funded from four sources: European Union Objective One (£50m), English Partnerships (£67m), Northwest Development Agency (£14m), and Liverpool City Council (£11m).
Infrastructure work on the site started in June, but completion of the latest contract agreement means that the main contract can now go ahead.
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