Cabinet is set to approve a completion date of 2024 for the Cork Events Centre.
The Irish Examiner report that an additional €7m will be pledged to cover inflation and delays
Construction on the 6,000 seat Event Centre at the site of the former Beamish and Crawford Brewery on South Main Street is set to begin in quarter four of this year.
The consortium of BAM and Live Nation have committed €5m for the detailed design of the building, which is expected by June.
The Government will provide €50m worth of funding for the project, with €35m invested by the consortium.