Building firm Watpac has won a contract for the construction of a velodrome in Brisbane for the 2018 Commonwealth Games.
The Queensland government has awarded Watpac stage one managing contractor services for the $55 million project in Chandler, which will host track cycling events for the Gold Coast Commonwealth Games.
"It will boast a world-class timber track and streamlined roof design to overcome the weather limitations of the existing outdoor velodrome, which was built for the 1982 Brisbane Commonwealth Games," Watpac said in a statement.
"Its design includes mixed sports courts, function spaces and a cafe."
Watpac is working to confirm a final contract for stage two of construction and expects the overall project value to be about $44 million.
Work is set to begin in October, with an expected completion date of mid-2016.
Brisbane-based Cox Rayner Architects was contracted to design the new velodrome in June.
Watpac's share price rose by 0.58 per cent to 87 cents per share at 10:30am.
